Qatar’s budget for Q1 of 2023 records surplus: Ministry of Finance

Qatar’s budget for Q1 of 2023 records surplus: Ministry of Finance

DOHA:The Ministry of Finance announced on Monday that the budget of Qatar for the first quarter of the year 2023 recorded a surplus of QR19.7 billion.

In its briefing on the actual data of Qatar's budget in the first quarter (Q1) of 2023, the ministry said that the total revenues for this quarter amounted to QR68.6 billion, of which QR63.4 billion were oil and gas revenues, while non-oil revenues amounted to QR5.2 billion.

The total expenditures in the same quarter of 2023 amounted to QR48.9 billion, of which QR15.6 billion were for salaries and wages and QR17.3 billion for current expenses, while secondary capital expenditures amounted to QR1 billion and major capital expenditures amounted to QR15.1 billion, the statement added.

Through its data, the Ministry of Finance explained that the actual average oil price during the aforementioned quarter amounted to $82.2 per barrel, which is higher than the estimated price in Qatar's budget for the year 2023 that amounts to $65 per barrel.

The ministry's estimated data for the state's general budget for the year 2023 estimated the surplus at QR29 billion for the entire year 2023, which means that about 68 percent of this amount has already been achieved during the first quarter