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Qatar’s budget makes leaps in first 9 months of this year

Qatar's budget

Qatar’s budget achieved a surplus in the first nine months of this year, amounting to 4.9 billion riyals ($1.35 billion).

At the same time, Qatar’s budget incurred a deficit of 4.2 billion riyals ($1.15 billion) in the corresponding period last year.

The value of the surplus in the third quarter of this year amounted to 0.9 billion riyals ($250 million), the Qatari Ministry of Finance said.

The deficit was 2.7 billion riyals ($740 million) in the corresponding period of 2020.

The total actual revenues achieved at the end of last September amounted to 142.1 billion riyals ($11.56 billion), of which 46.9 billion riyals ($12.88 billion) during the third quarter of 2021.

The total expenditures amounted to 137 billion riyals ($37.63 billion), of which 46 billion (about $12.63 billion) were in the third quarter of this year.

The volume of spending on major projects in nine months amounted to 46.2 billion riyals (about $12.69 billion).

While oil and gas revenues amounted to 111.6 billion riyals ($30.65 billion), representing 79% of the total revenues achieved by the end of September 2021, according to the same source.

Qatar’s budget for the year 2021 estimated recording a deficit of 34.6 billion riyals ($9.50 billion) with revenues of 160 billion riyals ($43.9 billion), and expenditures of about 194.7 billion riyals ($53.4 billion), calculating the oil price at $40 a barrel.

E-commerce in Qatar has grown by 47% in a year, reaching $2.2 billion in 2020.

Member of the Board of Directors of the Qatar International Center at the Qatar Chamber, Thani bin Ali Al Thani, said that the growth of e-commerce in Qatar amounted to $1.5 billion in 2019, and is expected to reach $2.3 billion this year.

Al-Thani participated in the Innovation Dome International Council for Development forum, under the title “Digital Economy, the Future Economy – Safe Transition to E-Commerce, Reality and Challenges,” which was held in the Jordanian capital, Amman.

According to a statement issued by the Qatar Chamber of Commerce and Industry, on Tuesday, a member of the Chamber’s board of directors reviewed the levers of e-commerce in his country, noting that Qatar enjoys a suitable environment for the adoption of e-commerce.

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