Qatar’s budget stays out of deficit in 18M on higher oil prices

12 Oct 2015

(MENAFN) Data showed that Qatar’s budget may not have slipped into a deficit in the past 18 months on the back of a higher Qatari oil price than the budgeted average oil price for the period.

According to data, Qatari oil price averaged USD74.24 a barrel in 18 months from April, 2014 to September, 2015, although crude price has been on the decline since the middle of last year.

The average oil price (Qatar’s crude) in nine months until December 2014 stood at USD94.35 a barrel. And from January to September of 2015, the price had averaged USD54.14.

In a recent report QNB said Qatar’s real GDP growth was projected to rise to 6.4 percent in both 2016 and 2017 as near-double-digit non-hydrocarbon growth will be supplemented by increased gas production.

Growth in the Qatari economy accelerated in the second quarter of 2015. Real GDP grew by 4.8 percent, QNB said quoting latest data released. The real GDP growth in 2014 stood at 4 percent.

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