FINANCIAL NEWS

Qatar’s budget deficit to fall by 5pct of its GDP

29 Mar 2017

(MENAFN) Qatar’s budget deficit may drop to 5 percent of the nation’s GDP this year, or USD8.7bn and may shrink amid 2019 due to increasing hydrocarbon receipts.

According to Qatar Central Bank data, the deficit for the first three quarters of last year reached USD9.2bn or 8.2 percent of the GDP.

However, for the same period a year earlier, revenue declined by 41.3 percent, whereas spending has declined by 20.7 percent.

This year budget aims a reduced deficit of USD7.8bn, down from USD12.8bn in the 2016 budget, while profits are projected to grow by 9 percent.

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MENAFN2903201700450000ID1095352698

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