Doha, Qatar – Qatar posted a budget surplus of QR 30 billion ($8 billion) for the third quarter of 2022, the Finance Ministry announced Tuesday.
In its briefing on the budget, the Ministry said that the total revenues for this quarter amounted to QR 81.8 billion ($22 billion), of which QR 76.3 billion ($21 billion) were oil and gas revenues, while non-oil revenues were estimated at QR 5.5 billion ($1.5 billion).
The ministry revealed that the total expenditures in the quarter amounted to QR 51.8 billion ($52 billion), of which QR 14.6 billion ($12.75 billion) was spent on salaries and wages and QR 18 billion ($5 billion) for current expenses, while incidental capital expenditures were pegged at QR 1.2 billion (0.32 billion) and that for major projects accounted for QR 18 billion ($5 billion).
Qatar’s budget surplus in the first half of 2022 doubled several times to reach QR 47.3 billion, compared to a surplus of QR 4 billion during the same period of 2021.
Data showed that oil and gas revenues increased to QR 117.6 billion, compared to QR 70.4 billion in the first half of 2021, representing an increase of 67 percent.
Total actual revenues achieved during the first half of this year amounted to QR 150.7 billion, with QR 85.7 billion coming in the second quarter, and QR 65 billion in the first. There was a total of QR 33.1 billion non-oil revenues, with QR 27.5 billion coming in the second quarter of 2022 and QR 5.6 billion in the first.
Total expenditures amounted to QR 103.4 billion during the first half of 2022, distributed over QR 52 billion in the second quarter and QR 51.4 billion in the first quarter.
The level of spending on major projects reached QR 35.1 billion during the first half, distributed over QR 16.7 billion in the second quarter and QR 18.4 billion in the first quarter of 2022.