(MENAFN- The Peninsula) QNA
Doha: The International Monetary Fund (IMF) expects the State of Qatar's budget surplus to grow 57.6 percent in 2023 to QR70.3bn, compared to QR44.6bn forecast for 2022.
The IMF's staff reports estimated that the State of Qatar's expenditures for 2023 would be relatively stable at QR236bn, compared to QR235.4bn in 2022. The State of Qatar's fiscal budget set the price of oil at an average price of $55 a barrel. Expenditures were set at QR204bn compared to revenues of QR196bn, a deficit of QR8bn.
The IMF forecast state revenues to rise 9.4 percent to QR306.3bn, compared with QR280bn forecast for 2022.
The increase was driven primarily by growth in investment income from public enterprises from QR82.3bn expected in 2022 to QR121.4bn next year. IMF also expects Qatar to generate QR54bn in revenue from oil, and QR73.3bn from LNG in 2023. The state's budget recorded a surplus of QR13.6bn, thanks to growth in the oil sector.
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