• Total revenue is expected to be up by 2.9% in 2018, compared to 2017

  • New projects worth QR29 billion are expected to be signed in 2018

  • Budgeted oil price at $45/barrel

  • Despite blockade, Qatar’s economy remains buoyant

Qatar’s revenue is anticipated to reach QR175.1 billion in 2018, up by 2.9%, compared with 2017. The increase is attributable to an expected rise in non-oil revenue, according to the Ministry of Finance in Qatar, as it released its state budget for 2018.

The budget, which commences on 01 January 2018, assumes the same conservative oil price of $45/barrel as used for the 2017 budget. In this regard, the budget deficit is expected to be at QR28.1 billion, down by 1.1% from QR28.4 billion in 2017. The deficit will be financed through the issuance of debt.

Expenditure is set at QR203.2 billion for  2018, up by 2.4% compared to QR198.5 billion in 2017. This increase is attributed to the launch of a number of new schools and educational facilities, along with new healthcare centers and hospitals, in addition to expansions in other public facilities. 

Expenditure on major projects is expected to total QR93 billion, almost the same level as in 2017, representing 45.8% - the largest share of total expenditure. The focus continues to be on the completion of projects in healthcare, education and transportation sectors, along with those related to 2022 FIFA World Cup.  

New contracts aimed at supporting growth in the private sector worth QR29  billion are expected to be awarded in 2018, further supporting growth in the private sector.

In addition:

  • 2022 FIFA World Cup projects -  Sports sector and 2022 FIFA World Cup projects amount to a total allocation of QR11.2 billion, which will focus on the completion of the various stadiums and sports facilities

  • Health sector - Allocations for the health sector were QR22.7 billion, representing 11.2% of the total expenditure in 2018

  • Education sector - The education sector is witnessing a major expansion, with a total allocation of QR19  billion in the 2018 budget

  • Transportation and infrastructure - The transportation and other infrastructure projects were assigned the largest share in the 2018 budget with allocations of QR42 billion, 21% of total expenditure

  • Housing developments - A total of QR12.5 billion has been allocated to land development for nationals in the three year period between 2018-20. This includes water and electricity networks, sewerage, roads and other related infrastructure. The 2018 has also allocated funds for the development of 3,000 residences for nationals.


Despite the imposition of a blockade on Qatar by neighboring countries in June 2017, the nation’s economy remains buoyant, and the outlook is overwhelmingly positive, according to H.E. Mr. Ali Shareef Al Emadi, the Minister of Finance. “Qatar continues to make great progress in cutting its budget deficit, which can be attributed to lower energy prices and high development expenditure,” he said. “The blockade has, if anything, added impetus to our economic diversification strategy.”

H.E. Al Emadi continued: “Revenue is rising and this can be attributed to the government’s efforts to diversify the economy. More funds are being allocated towards major projects in a variety of sectors, helping to further contribute to Qatar’s continued development.”

The 2018 budget is in line with directives from His Highness the Emir of the State of Qatar, Sheikh Tamim Bin Hamad Al Thani, to achieve efficiency in current expenditure while maintaining allocations to major projects that contribute to Qatar’s development. The budget is aligned with the Qatar National Vision 2030, which prioritizes economic, social, human and environmental development. This year’s budget further provides for the development of small and medium enterprises, logistics, economic and free-trade zones, as well as support for food security projects and agricultural production.

-Ends-

© Press Release 2017