His Highness Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, has issued Law No. (20) of 2024, approving the general budget for the 2025 fiscal year, according to the emirate’s official communications office.
His Excellency Ali bin Ahmed Al Kuwari, Minister of Finance, presented the details of next year’s budget to the media, in which the country projects total revenues of QAR 197 billion ($53.98 billion).
Qatar, one of the top LNG producers in the world, aims to continue its conservative approach in estimating oil and gas revenues, adopting an average oil price of $60 per barrel to ensure financial flexibility and sustainable spending patterns, according to Al Kuwari.
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Drop in oil, gas revenues
Projected oil and gas revenues amount to QAR 154 billion ($42.19 billion), reflecting a 3.1 percent decrease compared to QAR 159 billion ($43.56 billion) last year while non-oil revenues remain steady at QAR 43 billion ($11.78 billion), unchanged from 2024.
In addition, total expenditure for the upcoming year is set at QAR 210.2 billion ($57 billion), marking a 4.6 percent increase from the previous year. Al Kuwari said that the projected deficit of QAR 13.2 billion ($3.58 billion) will be addressed through a combination of domestic and external debt instruments, as needed.
Focus on health, education
Allotment for the healthcare and education sectors constitute QAR 41.4 billion ($11.23 billion), representing around 20 percent of the total budget. This substantial allocation underscores Qatar’s continued focus on human capital and public service development.
Strategic sectors will also receive significant funding in 2025, with dedicated allocations for trade and industry, research and innovation, tourism, digital transformation and Information Technology. These investments aim to advance Qatar’s economic diversification efforts and achieve sustainable development across sectors.
Salary and wage allocations for the coming year increased by 5.5 percent compared to last year, reaching QAR 67.5 billion ($18.50 billion). Current expenditure allocations rose by 6.3 percent while secondary capital expenditures increased by 7.7 percent. Major capital expenditure saw a slight increase of 1.4 percent to support ongoing development projects, the report added.
Qatar – one of the wealthiest countries in the world based on GDP per capita – aims to transform itself into an advanced, knowledge-based economy capable of sustainable development.
