Qatar recorded a budget deficit of 1.4 billion riyals ($373.29 million) in the third quarter of 2025, which was financed through debt instruments, the finance ministry said on Thursday.

Total revenue fell 4% year-on-year in the quarter from the prior year period, to 49.2 billion riyals, while spending was at 50.6 billion riyals, 1.2% lower than last year, according to government data. Oil prices averaged around $68 per barrel during the quarter.

Qatar, among the world's top exporters of liquefied natural gas, raised $4 billion from debt markets earlier this month, which attracted hefty demand from global investors.

It also recorded a deficit in the second quarter as public spending rose 5.7% from a year earlier and lower oil prices weighed on revenue.

Like other Gulf states, Qatar has invested billions to develop sectors such as tourism to diversify its own economy but remains largely reliant on hydrocarbon income.

($1 = 3.7504 riyals)

(Reporting by Jana Choukeir; Writing by Rachna Uppal; Editing by Ros Russell)