IMF expects Qatar’s budget surplus to grow 57.6% in 2023

QNADohaThe International Monetary Fund (IMF) expects Qatar’s budget surplus to grow 57.6 percent in 2023 to QR70.3 billion, compared to QR44.6 billion forecast for 2022.The IMF’s staff reports estimated Qatar’s expenditures for 2023 would be relatively stable at QR236 billion, compared to QR235.4 billion in 2022. Qatar’s fiscal budget set the price of oil at an average price of $55 a barrel. Expenditures were set at QR204 billion compared to revenues of QR196 billion, a deficit of QR8 billion.The IMF forecast the country’s revenues to rise 9.4 percent to QR306.3 billion, compared with QR280 billion forecast for 2022. The increase was driven primarily by growth in investment income from public enterprises from QR82.3 billion expected in 2022 to QR121.4 billion next year. IMF also expects Qatar to generate QR54 billion from oil and QR73.3 billion from LNG in revenues in 2023.The state’s budget recorded a surplus of QR 13.6 billion, thanks to growth in the oil sector.