DOHA: Qatar is expected to base its state budget for the fiscal year starting in April on an average oil price of $45 per barrel, down from $65 assumed in the current year’s budget, said a Qatari energy industry source.
“This year’s budget is based on $45 a barrel oil, which is conservative and will help keep growth on track,” said the source, who is involved in reviewing aspects of the budget.
In the April-June quarter of the current fiscal year, actual state spending fell 6.6 percent from a year ago to 38.8 billion riyals ($10.7 billion) and the government enjoyed an actual surplus of 79.0 billion riyals, according to the latest data.
In the past, the ministry has not routinely disclosed the oil prices on which it bases its budgets.
Qatar budget to be based on $45 oil
