$ 7.7 billion new deficit in the country budget for 2018

by **Rocky** Wed 13 Dec 2017, 4:41 am

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Post n°1

$ 7.7 billion new deficit in the country budget for 2018

by Rocky Wed 13 Dec 2017, 4:41 am

$ 7.7 billion new deficit in the country budget for 2018
December 13 2017 12:47 p

$ 7.7 billion new deficit in the country budget for 2018 1220171304615547766331

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Baghdad Post

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Iraq News

expected Qatar to reach its budget deficit for the year 2018 about $ 7.7 billion, the third consecutive year, due to a decline in energy prices.

Qatar's finance ministry said it expects spending in the budget to reach $ 55.4 billion, against $ 47.7 billion, slightly higher than previously estimated, and it calculated oil revenue for next year at $ 45 a barrel, unchanged from In 2017, despite the high prices of crude oil, according to "AFP".

In 2016, after 15 years of surplus, Qatar was hit by its first budget deficit of $ 12 billion, according to Qatar's Ministry of Finance, which later announced a deficit of $ 7.8 billion to balance this year.

The spending on major projects is expected to reach $ 25 billion, roughly equivalent to spending in 2017, of which $ 3 billion will be earmarked for World Cup projects, the ministry said.

The 2018 budget forecast comes at a time when Doha faces a boycott of four Arab countries led by Saudi Arabia since June 5 for its role in "supporting terrorism."

Qatar, the largest exporter of liquefied natural gas (LNG) and oil-exporting, was forced to tighten its belt economically after the big oil price crash in 2014.

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