Qatar records QAR2bn budget surplus in 2024's first quarter

Qatar records QAR2bn budget surplus in 2024's first quarter

QLNews
By QLNews

Qatar’s Ministry of Finance announced that the country’s budget for the first quarter of 2024 recorded a surplus of QAR2bn.

The surplus will be directed towards reducing public debt, and hence there will be no cash surplus, said the Ministry on X, formerly known as Twitter.

Qatar’s total budget revenues amounted to QAR53.4bn for the first quarter of 2024. Out of this, QAR47.3bn revenues came from oil while QAR6.1bn was non-oil revenues. It translated to a 22.1% decrease when compared to the same period from the previous year.

The total expenditures in the first quarter of 2024 amounted to QAR51.4bn. While QAR16.3bn was directed towards salaries and wages, QAR18.8bn went for current expenses. Secondary capital expenditures amounted to QAR1.4bn.

Major capital expenditures amounted to QAR14.6bn, a five percent increase from the same period the previous year.

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