Qatar’s 2024 budget prioritises health and education sectors

Qatar’s 2024 budget prioritises health and education sectors

Doha, Qatar: Minister of Finance H E Ali bin Ahmed Al Kuwari announced the total revenues expected in the general budget of Qatar for the fiscal year 2024, issued by the Amir H H Sheikh Tamim bin Hamad Al Thani yesterday, amounts to QR 202bn, a decrease of 11.4 percent compared to the 2023 budget total revenues estimates.

Addressing a press conference, Minister of Finance attributed the decrease in revenues to the adoption of an average oil price of $60 per barrel for 2024 instead of $65 per barrel in 2023, based on the international institutions’ estimates for oil prices in 2024, and the conservative estimates for oil and gas revenues.

Minister Al Kuwari said that estimates of total oil and gas revenues for 2024 amount to QR159bn compared to QR186bn in 2023, a 14.5 percent decrease; indicating that the estimates of non-oil revenues for 2024 amounts to QR43bn, an increase of approximately 2.4 percent compared to the fiscal year 2023.

The expenditures in the fiscal year 2024 budget see an increase of 1 percent from 2023 to reach QR200.9bn, due to a rise in the allocations for salaries and wages in the 2024 budget by QR1.5bn, a 2.4 percent increase from 2023