Doha: Data from the Ministry of Finance showed today that the State of Qatar’s budget for the fiscal year of 2022 saw a surplus of QR89bn, a 5462.5 percent increase compared to the surplus of 2021, which was less than QR1.6bn.
The ministry said that the surplus for Q4 of 2022 (October to December) was QR11.6bn, compared to a deficit of QR3.3bn in the same quarter of 2021.
Total revenues for the quarter came in at QR65.1bn, compared to QR51.5bn in the same period of last year.
Oil and gas revenues were QR59.3bn, compared QR44.7bn in the corresponding period of 2021.
Total expenditures for the quarter came at QR53.5bn, compared to QR54.8bn in Q4 of 2021. Wages were QR 15.4 billion, compared to QR 15 billion in the same period of last year.
Current expenditures were QR19.3bn for the quarter, compared to QR16.1bn in the same quarter of the previous year. Minor capital expenditure were QR1.4bn, compared to QR1.1bn in Q4 of 2021. Expenditures tied to major projects were QR17.4bn in 2022, compared to QR22.6bn in the same period of 2021.
Estimates when the 2022 budget was first approved were of a deficit of QR8.3bn.
HE Minister of Finance Ali bin Ahmed Al Kuwari said at the time that they were a result of the expenses related to hosting the World Cup, including security and all events accompanying the FIFA World Cup Qatar 2022.
2022’s large surplus brings to mind similar high levels achieved in 2012 (QR77bn), 2013 (QR106.3bn), and 2014 (QR 108.6bn), mainly due to the control over expenditures and the rise in revenues as oil prices recovered.
