Qatar records budget surplus of QR12bn in Q3

In its briefing on the actual data of Qatar's budget in the third quarter (Q3) of 2023, Ministry of Finance has announced that Qatar's budget for the third quarter of the year 2023 recorded a surplus of QR12bn.

Ministry of Finance said that the total revenues for this quarter amounted to QR61.8bn, of which oil revenues account for QR56.7bn, whereas non-oil revenues for QR5.1bn.

The total expenditures in Q3 of 2023 amounted to QR49.8bn, of which QR14.9bn went to salaries and wages, and QR17.5bn went to major capital expenditures, with current expenses amounting to QR16.3bn, while secondary capital expenditures amounted to QR1.1bn.

The ministry noted that the 2023 Q3 surplus will be directed to repay government debts and strengthen public reserves.

In a previous statement, the Ministry of Finance had said that the Q2 of 2023 budget surplus amounting to QR10bn, was to be directed in accordance with the State's financial policies, towards reducing public debt, raising the reserves of the Qatar Central Bank, and enhancing the savings of future generations through the Qatar Investment Authority.