Qatar’s budget surplus has increased
2022.12.13 09:46
Qatar’s budget surplus has increased
Budrigannews.com – According to data from the finance ministry, the state news agency reported on Tuesday that Qatar had a budget surplus of 30 billion riyals, or $8.19 billion, for the third quarter of 2022. This result was made possible by skyrocketing revenues from oil and gas.
In the same time frame in 2021, there was a surplus of 900 million riyals. According to information provided by the government, spending totaled 51.8 billion riyals in the third quarter of 2022.
Absolute incomes in Q3 added up to 81.8 billion riyals, of which more than 93%, or 76.3 billion riyals, came from oil and gas, the assertion said.
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One of the world’s largest exporters, the Gulf Arab nation that is hosting the soccer World Cup has benefited greatly from rising global oil and gas prices.
When compared to the same period in 2021, revenues from oil and gas increased by 67% in the first half of 2022.
The first half of the year saw a 47.3 billion riyal budget surplus, up from 4 billion riyals the year before.
Since Russia invaded Ukraine in February, Europe’s demand for gas has increased. Qatar agreed last month to supply Germany with 2 million tonnes of LNG annually beginning in 2026 for a period of 15 years.
($1 = 3.6616 Qatar riyals)
