DUBAI  - Qatar recorded a budget deficit of 0.5 billion riyals ($133.31 million) in the first quarter of 2025, which was covered through debt instruments, the finance ministry said on Tuesday.

Total revenue in the quarter stood at 49.4 billion riyals, down 7.5% from the same quarter last year. Non-oil revenue accounted for 6.9 billion riyals of total revenue.

Government spending fell around 2.8% year-on-year to 49.94 billion riyals.

Qatar, which is among the world's biggest exporters of liquefied natural gas (LNG), has stepped up efforts to diversify its economy away from hydrocarbons but remains reliant on gas revenue for the majority of government income.

($1 = 3.7506 riyals)

(Reporting by Jana Choukeir; Editing by Andrew Heavens and Rachna Uppal)