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Business and Finance

HH the Amir Approves State's General Budget for Fiscal Year 2023

20 Dec, 2022 07:45 AMQatar News Agency (QNA)Intended Audience
Citizen: Business Owner, Employee
Resident: Employee

News Details

HH the Amir Sheikh Tamim bin Hamad Al Thani issued law No. (10) of 2022 approving the State's general budget for the fiscal year 2023.

The law is effective as of January 1, 2023, and shall be published in the Official Gazette.

HE Mr. Ali bin Ahmed Al Kuwari, Minister of Finance, announced that the total revenue estimates in the fiscal year 2023 budget amount to QR228 billion, a %16.3 increase compared to the 2022 budget estimates, while the expenditure estimates reach QR199 billion, and QR29 billion budget surplus.

HE the Minister of Finance attributed the increase in public revenues mainly to the adoption of an average oil price of USD 65 per barrel for 2023 instead of USD 55 per barrel in the 2022 budget. This is due to the remarkable recovery in global energy prices during 2022, in addition to the international institutions' estimates indicating that the energy prices will continue to rise in the medium term, as he explained.

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