The Official Gazette, in its first issue of 2025 published on Wednesday, January 8, included Law No. 20 of 2024 regarding the approval of the State’s general budget for the fiscal year 2025. His Highness Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar, issued this law on December 12, 2024, which outlines the framework of the new budget.
According to the law, public revenues for the year have been set at QAR 197 billion, while public expenditures are estimated at QAR 210.2 billion. This creates a projected financial deficit of QAR 13.2 billion due to expenditures exceeding revenues.
The law assigns the Ministry of Finance the responsibility of financing this deficit through local and foreign debt instruments as needed, with the law taking effect from January 1, 2025.
In a press conference announcing the budget held in mid-December 2024, His Excellency Ali bin Ahmed Al Kuwari, Minister of Finance, stated that the projected revenues for the fiscal year 2025 decreased by 2.5% compared to the previous year’s budget. He attributed this decline to the country’s cautious approach in estimating oil and gas revenues, with an average oil price of $60 per barrel adopted to ensure financial flexibility.
Based on this estimate, oil and gas revenues are expected to reach QAR 154 billion, a 3.1% decrease from 2024, while non-oil revenues remain steady at QAR 43 billion, unchanged from the previous year.
The Minister noted that total public expenditures increased by 4.6% from the previous year, reaching QAR 210.2 billion. Allocations for salaries and wages rose by 5.5%, amounting to QAR 67.5 billion. Current expenditures increased by 6.3%, while major capital expenditures showed a slight rise of 1.4%, ensuring the continued implementation of strategic and developmental projects.
His Excellency emphasized the state’s continued commitment to developing key sectors. The budget allocated QAR 41.4 billion to the health and education sectors, representing 20% of the total budget. Financial resources were also earmarked to support strategic sectors such as trade and industry, research and innovation, tourism, digital transformation, and information technology, reinforcing economic diversification efforts and achieving sustainable development.
The general budget for the fiscal year 2025 reflects Qatar’s National Vision 2030 by focusing on achieving financial balance, enhancing public spending efficiency, and ensuring the continuity of strategic projects that support the national economy and improve the quality of life for citizens and residents.
