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Satyendra Pathak
Doha
Qatar’s budget recorded a third consecutive quarterly surplus amounting to QR0.9 billion in the third quarter of 2021, according to the public budget statement issued by the Ministry of Finance on Monday.
With the addition of QR0.9 billion in the third quarter of 2021, the ministry said, Qatar’s total budget surplus for the first three quarters in 2021 reached QR4.9 billion.
The third quarter reflects the overall pattern of expenditure stability. Total public expenditure amounted to QR46.1 billion, representing a marginal decline of 0.3 percent compared with the previous quarter.
On the other side, total revenue reached QR47 billion in the third quarter which corresponds to a decline of 6.2 percent in comparison with the second quarter. This was driven by the 70.4 percent decline in non-hydrocarbon revenue compared to the second quarter as the substantial share of budgeted non-oil revenue for 2021 was achieved in the second quarter of 2021 due to the timing of corporate income tax collection.
Despite the anticipated drop in non-oil revenue for Q3-2021, total revenue for the third quarter accounted for 29.3 percent of the 2021 budget.
Stable expenditure and lower revenue during the third quarter of 2021 resulted in a lower surplus compared to the previous quarter.
The total oil and gas revenue amounted to QR 41.2 billion, which represents an increase of 34.6 percent compared to the same period last year supported by higher oil prices.
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09/11/2021
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