Qatar sees a 67% rise in oil and gas revenuestext_fields
Oil and gas revenues in Qatar have increased by 67% in the first half of 2022.
Official numbers released by the Ministry of Finance showed that the revenue from oil and gas increased to QR 117.6bn, compared to QR70.4bn in the first half of 2021. This has helped Qatar to reach a budget surplus of QR47.3bn, compared to QR 4 bn in the first half of last year.
In the second quarter of 2022, a total of QR 33.7bn of the surplus was recorded. Total revenues achieved during the first half of this year reached a level of QR 150.7bn, with QR 85.7bn coming in the second quarter, and QR 65bn in the first, said the ministry data.
In the case of non-oil revenues, there was a total of QR 33.1bn with QR 27.5bn coming in the second quarter of the year and QR 5.6bn in the first.
In the first half of 2022, Qatar's total expenditures amounted to QR103.4bn. It was distributed over QR 52bn during the second quarter and QR 51.4bn during the first quarter. QR 32.9bn were salaries and wages. And spending on main projects came in at QR35.1bn in the first half.