Qatar's Q1 2024 Budget Surplus Hits QR2bn Despite Revenue Decrease

Qatar, 20 May, 2024 : The Ministry of Finance in Qatar revealed a surplus of QR2 billion in the country's budget for the first quarter of 2024. This surplus, however, was allocated towards reducing public debt, leaving no cash surplus.

Total budget revenues for Q1 2024 reached QR53.4 billion, with QR47.3 billion from oil revenues and QR6.1 billion from non-oil revenues. This marks a 22.1% decrease compared to the same period in the previous year.

Expenditures for the same quarter amounted to QR51.4 billion. Of this, QR16.3 billion was allocated for salaries and wages, QR18.8 billion for current expenses, QR1.4 billion for secondary capital expenditures, and QR14.6 billion for major capital expenditures. Notably, major capital expenditures saw a 5% increase from the corresponding period last year.

Source : www.gulf-times.com