His Highness the Amir issues the 2022 State Budget
- Revenue is anticipated to reach QR196.0bn based on an average oil price of $55 per barrel
- Expenditure is estimated at QR204.3bn
- The Budget deficit is estimated at QR8.3bn
- A total of QR74.0bn is allocated for Major Projects
H.E. Ali bin Ahmed Al-Kuwari, Minister of Finance, stated that total revenue in the 2022 State Budget is estimated at QR196.0 billion, representing an increase of 22.4% over the 2021 Budget. H.E. added that the 2022 Budget is based on an oil price assumption of $55 per barrel given the robust recovery in international energy prices. Nevertheless, it still reflects a continuation of adopting a conservative policy in revenue estimation to maintain fiscal balance and minimize the volatility of global energy prices on the State Budget.
H.E. Al-Kuwari added that total expenditure, compared to the 2021 fiscal year, is set to increase by 4.9% and reach QR204.3 billion in 2022. This is largely due to a temporary increase in current expenditure related to the hosting of the 2022 FIFA World Cup.
The 2022 Budget anticipates a deficit of QR8.3 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. Al Kuwari stated that an amount of QR74.0 billion has been allocated for major projects in the 2022 Budget. In line with existing plans and strategies, the State continues the work on development projects related to infrastructure, citizens’ land development and public services.
The State continues to prioritize investment in the education and healthcare sectors. Allocations for the education sector amounted to QR17.8 billion (8.7% of total expenditure), of which, a part will be directed towards the expansion of schools and educational facilities. Allocations for the healthcare sector amounted to QR20 billion (9.8% of total expenditure). This provision includes a number of projects and initiatives to enhance the quality of healthcare services being provided to the public.
Budget of the 2022 Fiscal Year
(QR bn) |
2021 Budget
($40 p/b)
|
2022 Budget
($55 p/b)
|
% change
|
Oil Revenues |
121.6
|
154.0
|
26.6%
|
Non-Oil Revenues |
38.5
|
42.0
|
9.1%
|
Total Revenue |
160.1
|
196.0
|
22.4%
|
Salaries and Wages |
57.9
|
58.5
|
1.0%
|
Current Expenditure |
60.7
|
67.2
|
10.7%
|
Minor Capex |
4.0
|
4.6
|
15.0%
|
Major Projects |
72.1
|
74.0
|
2.6%
|
Total Expenditure |
194.7
|
204.3
|
4.9%
|
Surplus/Deficit |
-34.6
|
-8.3
|
-
|
For more details please find the below full report
For more details please about the Qatar State Budget 2022 find the below:
Public Budget Statement
Executive Summary