Amir approves State's General Budget for FY 2023
- General estimates of public revenues at QAR 228 billion
- Total expenses of 2023 estimated with QAR 199 billion
- Surplus estimated with QAR 29 billion
HRH Sheikh Tamim bin Hamad Al Thani, the Amir of the State Qatar issued Law No. (10) of 2022 approving the state's general budget of 2023, which enacted to be effective as of January 1st, 2023 and to be published in the official gazette.
HE Ali bin Ahmed Al Kuwari, the Minister of Finance announced that the total estimates of the revenues of at the general budget for the FY 2023 is around QAR 228 billion, representing 16.3% increase when compared to the estimates of 2022's budget. The increase in public revenues is primarily attributed to approving average oil price of USD 65 per barrel for 2023 instead of USD 55 per barrel as in 2022's budget, as result to the remarkable rise in the global energy prices during the current year in addition to the estimates of the international establishments on the continued increase in the energy prices on the medium term. Pursuant to the foregoing, the estimates of oil and gas total revenues for 2023 came to QAR 186.0 billion compared to QAR 154.0 billion for 2023 representing an increase of 20.8%. On the other hand, the non-oil revenues estimate for 2023 remained the same compared to 2022's budget at QAR 42.0 billion.
For the expenses, the Minister demonstrated a 2.6% decline for 2022 coming to QAR 199 billion, which coincided with finalizing most of the costs of World Cup hosting. The salaries and wages provisions at 2023 budget raised to QAR 4.0 billion more than 2022 coming to QAR 62.5 billion, representing an increase with 6.3%. For the main projects provisions at 2023, it has fell by 13.6% compared to 2022 coming to QAR 63.9 billion, in addition to slight increase in the provisions of current expenses from QAR 67.2 billion to QAR 67.5 billion, just as the secondary capital expenses which slightly raised from QAR 4.6 billion to QAR 5.1 billion.
The Minister of Finance stated that the state will pay continuously focus on health and education sectors, as QAR 21.1 billion is dedicated to health, representing 11% of total expenses. He added that the education section attained around 9% of total expenses coming to QAR 18.1 billion.
Budget of the 2023 Fiscal Year
| (QR bn) |
2022 Budget
($55)
|
2023 Budget
($65)
|
| Oil Revenues |
154.0
|
186.0
|
| Non-Oil Revenues |
42.0
|
42.0
|
| Total Revenue |
196.0
|
228.0
|
| Salaries and Wages |
58.5
|
62.5
|
| Current Expenditure |
67.2
|
67.5
|
| Minor Capex |
4.6
|
5.1
|
| Major Projects |
74.0
|
63.9
|
| Total Expenditure |
204.3
|
199.0
|
| Surplus/Deficit |
-8.3
|
29.0
|
For more details please find the below full report
For more details please about the Qatar State Budget 2023 find the below:
Public Budget Statement