qatar to run third consecutive budget deficit in 2018
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Qatar to run third consecutive budget deficit in 2018

Arab Today, arab today

Arab Today, arab today Qatar to run third consecutive budget deficit in 2018

Qatar, the world's largest exporter of liquified natural gas and an oil producer.
Doha - Arab Today

Qatar will run a deficit of $7.7 billion in 2018, a third consecutive year in the red due to low energy prices, the finance ministry said Tuesday.

The gas-rich emirate projected spending at $55.4 billion and revenues at $47.7 billion, both slightly higher than previously estimated, the ministry said in a statement.

A shortfall of $7.8 billion has been predicted for this year.

The ministry said it calculated oil income for next year at a conservative price of $45 a barrel, unchanged from 2017, despite a sharp rise in crude prices.

In 2016, Qatar posted its first budget deficit of $12 billion after 15 years of surpluses.

The deficit would be financed through the issuance of debt, said the ministry.

Expenditure on major projects was projected at $25 billion next year, almost the same level as in 2017, $3 billion of which would be on World Cup 2022 projects, said the ministry.

Forecasts for 2018 come at a time of crisis for Qatar, which has been diplomatically and economically boycotted by a bloc of Saudi-led countries since June.

Qatar stands accused of supporting Islamist extremists and of being too close to Shiite Iran, Riyadh's arch-rival.

Doha denies the allegations and has accused the Saudi-led bloc of aiming to incite regime change.

"Qatar continues to make great progress in cutting its budget deficit, which can be attributed to lower energy prices and high development expenditure," said Finance Minister Ali Shareef al-Emadi.

"The blockade has, if anything, added impetus to our economic diversification strategy."

Qatar, the world's largest exporter of liquified natural gas and an oil producer, has been forced to tighten its belt following the 2014 collapse in the price of crude.

In recent years Qatar has sought to reduce its reliance on hydrocarbons and its 2030 "National Vision" is to turn Qatar into a "knowledge-based economy".

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

qatar to run third consecutive budget deficit in 2018 qatar to run third consecutive budget deficit in 2018

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

qatar to run third consecutive budget deficit in 2018 qatar to run third consecutive budget deficit in 2018

 



GMT 21:16 2016 Monday ,27 June

Zaki Badr discusses cleaning problem in Giza

GMT 21:46 2017 Saturday ,14 January

Turkey arrests 60 businessmen for alleged Gulen ties

GMT 22:38 2017 Friday ,24 March

Abbas meets with Merkel in Berlin

GMT 09:02 2017 Monday ,27 March

Tunisian Premier Concludes Visit to Sudan

GMT 15:54 2017 Friday ,01 September

Attorney General Directs Prosecutors to inspect Prison

GMT 09:22 2017 Sunday ,31 December

HM King condoles with Afghanistan President

GMT 10:12 2016 Wednesday ,06 April

Strong dollar, mild weather shrink H&M profits

GMT 17:03 2016 Saturday ,24 December

7 police killed in attacks in Afghansitan

GMT 13:51 2017 Friday ,17 March

Israel denies Syria shot down a warplane

GMT 04:08 2017 Thursday ,05 January

Carbon tax can fund clean energy transition

GMT 19:27 2016 Wednesday ,14 September

Alstom to go ahead with plans to shut down Belfort plant

GMT 01:44 2017 Friday ,15 December

Mennat-Allah underlines importance of landscapes

GMT 04:57 2017 Thursday ,14 December

Trump tells NASA to send Americans to Moon

GMT 21:43 2017 Wednesday ,11 October

Qabil discusses with Swiss delegation improving power

GMT 21:06 2017 Sunday ,17 September

OIC condemns suicide attack in Kabul

GMT 08:27 2017 Thursday ,27 April

Nokia reports another loss as networks sag

GMT 19:41 2017 Monday ,06 February

Elina Svitolina Claims Taiwan Open Title

GMT 09:39 2017 Friday ,03 February

Former Brazilian president Lula's wife dies of stroke
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday