HH the Amir approves 2021 state budget
His Highness the Amir Sheikh Tamim bin Hamad Al Thani yesterday approved the state budget for 2021.
The 2021 budget reveals an expected total revenue of QR160.1 billion and total expenditure of QR194.7 billion.
HH the Amir issued Law Number 22 of 2020, approving the 2021 state budget, which will go into effect on January 1, 2021.
The revenue in the budget is based on a conservative average oil price assumption of $40 per barrel, His Excellency the Minister of Finance Ali Shareef Al Emadi highlighted.
“This reflects a continued policy of conservative revenue estimation to maintain a fiscal balance and minimize the impact of the fluctuation in energy prices on the State Budget,” he said, according to a statement by the Ministry of Finance (MOF).
HE the Minister pointed out that a deficit of QR 34.6 billion is expected under the 2021 budget.
The projected deficit will be covered by MOF “from available resources or through issuing debt instruments in the domestic and international financial markets, if needed,” the statement adds.
An amount of QR72.1 billion has been allocated for major projects in the 2021 state budget, HE Al Emadi said.
This will cover new projects in addition to on-going development projects in different sectors as well as those pertaining to the 2022 World Cup.
Citizens’ land development projects and related infrastructure is also part of this allocation.
QR72.1 billion has been allocated for major projects in the 2021 Budget.
— Ministry of Finance Qatar - وزارة المالية قطر (@MoF_Qatar) December 10, 2020
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The state budget for 2021 has allocated QR17.4 billion to the education sector, which entails spending on the expansion of schools as well as other educational facilities.
An amount of QR16.5 billion has been allocated for the healthcare sector, “covering additional high priority projects to further promote and expand medical and healthcare facilities scheduled to be implemented during 2021,” according to the Ministry’s statement.
The full report on the 2021 budget is available here.
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