His Highness the Amir issues the 2021 State Budget
- Revenue is anticipated to reach QR160.1 billion based on an average oil price of $40 per barrel
- Expenditure is estimated at QR194.7 billion
- The Budget deficit is estimated at QR34.6 billion
- A total of QR72.1 billion is allocated for Major Projects
His Highness the Amir Sheikh Tamim Bin Hamad Al-Thani, has issued Law Number (22) of 2020, approving the 2021 State Budget that will be implemented from January 1, 2021.
H.E. Ali Shareef Al-Emadi, Minister of Finance, explained that revenue in the 2021 State Budget is based on a conservative average oil price assumption of $40 per barrel. This reflects a continued policy of conservative revenue estimation to maintain a fiscal balance and minimize the impact of the fluctuation in energy prices on the State Budget.
H.E. Al-Emadi added that the total expenditure is expected to reach QR194.7 billion during 2021; accordingly, the budget anticipates a deficit of QR34.6 billion. The Ministry of Finance will cover the projected deficit from available resources or through issuing debt instruments in the domestic and international financial markets, if needed.
H.E. further stated that an amount of QR72.1 billion has been allocated for major projects in the 2021 Budget. This includes allocation for new projects along with on-going development projects in various sectors and those related to hosting the 2022 World Cup. This also include allocations for citizens’ land development projects and related infrastructure.
The State continues to give priority to the education and healthcare sectors, whereby allocations for the education sector amounted to QR17.4 billion which includes spending to expand schools and other educational facilities. Allocations for healthcare amounted to QR16.5 billion, covering additional high priority projects to further promote and expand medical and healthcare facilities scheduled to be implemented during 2021.
Budget of the 2021 Fiscal Year
| (QR bn) |
2020 Budget
|
2021 Budget
|
% change
|
| Oil Revenues |
168.0
|
121.6
|
-27.6%
|
| Non-Oil Revenues |
43.0
|
38.5
|
-10.5%
|
| Total Revenue |
211.0
|
160.1
|
-24.1%
|
| Salaries and Wages |
59.0
|
57.9
|
-1.9%
|
| Current Expenditure |
58.0
|
60.7
|
4.7%
|
| Minor Capex |
3.5
|
4.0
|
14.3%
|
| Major Projects |
90.0
|
72.1
|
-19.9%
|
| Total Expenditure |
210.5
|
194.7
|
-7.5%
|
| Surplus/Deficit |
0.5
|
-34.6
|
-
|
Full report & Executive summary
For more details about the Qatar State Budget 2021 please find the below:
Download full report
Download Executive summary