Mubasher TV
Contact Us Advertising   العربية

Qatar’s budget surplus hits QAR 1bn in Q1

Qatar’s budget surplus hits QAR 1bn in Q1
Qatar has achieved a budget surplus of QAR 1.042 billion in Q1-18

Mubasher: Qatar has achieved a budget surplus of QAR 1.042 billion ($286 million) during the first quarter of 2018, according to the Qatar Central Bank's (QCB) data released on Wednesday.

The increase in revenues by 15% during the first three months of 2018 resulted in achieving growth in budget surplus.Total revenues amounted to QAR 50.47 billion in Q1-18, compared to QAR 44 billion in Q1-17.

On the other hand, expenses went down 4.6% year-on-year to QAR 49.4 billion in Q1-17, data showed.

The surplus represented 0.6% of Qatar’s gross domestic product (GDP) during the three-month period ended 31 March.

It is worth noting that the gas-rich country’s budget deficit tumbled 30% to QAR 35.3 billion in the full-year 2017, versus QAR 50.8 billion for the same period of the prior year.