Thu, December 12, 2024

Qatar approves 2025 budget with $54bn revenues and $57.7bn spending

Qatar has approved its budget for 2025 with an expected $54bn revenues and $57.7bn spending. Amir Sheikh Tamim bin Hamad Al-Thani issued Law No. (17) of 2024 approving the State's general budget for the fiscal year 2025. The law stipulated its implementation and enforcement as of January 1, 2025, and that it be published in the Official Gazette.

Qatar has approved its 2025 budget, projecting revenues of 54 billion Qatari riyals ($14.8 billion) and expenditures of 57.7 billion riyals ($15.8 billion), resulting in a deficit of 3.7 billion riyals ($1 billion). The budget focuses on economic diversification, enhancing infrastructure, and improving public services. Key areas of spending include health, education, and social development, with significant investments also planned for major projects like the expansion of Hamad International Airport and the development of the North Field Expansion Project. The government aims to balance economic growth with fiscal responsibility, leveraging its substantial hydrocarbon revenues while pushing for non-oil sector growth.

Read the Full Arabian Business Article at:
https://www.arabianbusiness.com/politics-economics/qatar-approves-2025-budget-with-54bn-revenues-and-57-7bn-spending