The Ministry of Finance confirmed that the state continues to adopt a conservative approach by maintaining its estimates of the price of oil approved in the state’s general budget for the year 2025 at $60 per barrel, in order to ensure financial stability and economic flexibility in the face of fluctuations in energy markets. This came in a post on the ministry’s account on the X platform. During his review of the state’s general budget figures on health insurance, His Excellency the Minister of Finance confirmed that we are still preparing studies and executive regulations for the application, praising the performance of the private medical sector and the high levels of services it provides, which enhances the options for those wishing to obtain medical care services. He also emphasized the positive effects of health insurance on the private medical sector and insurance companies upon implementation.
The total expected revenues of the budget for the fiscal year 2025 amount to 197 billion riyals, of which 154 billion riyals are oil and gas revenues, and 43 billion riyals are non-oil revenues, attributing the expected deficit for 2025 of 13.2 billion riyals to the state continuing to follow a conservative approach in estimating oil and gas revenues. And adopting an average oil price of $60 per barrel, with the aim of enhancing financial flexibility and ensuring stability of spending.
His Excellency the Minister of Finance said that revenues remain estimated, and our financial policy adopts a conservative price for oil in anticipation of any changes in the market, adding that the decline in oil revenues compared to 2024 budget estimates may be due to directing capital expenditures due to projects to expand the production of liquefied natural gas.
Regarding the expectations of a jump in domestic product growth in 2027 to 7.9%, as was mentioned during the presentation of the general budget, compared to the coming years until 2029, the Minister of Finance said that this is mainly due to the start of production in liquefied natural gas expansion projects, and its gradual increase starting from The year 2026 until 2030 to reach the highest level, which is to increase our gas production by 85% compared to current production levels of 77 million tons annually. He added that this gradual increase starting in 2026 will reflect positively on the growth of the domestic product.
Regarding the rise in the credit rating of the State of Qatar, His Excellency the Minister of Finance said that one of the main reasons for this is financial discipline in the country, which is considered one of the most important pillars of raising the credit rating of countries, as the country continues to invest in the economy, raise the efficiency of human resources, enhance financial reserves, control expenses, and strategic plans. Good for dealing with crises. The Minister stressed that the credit rating of the State of Qatar is considered one of the best ratings in the region and the world, and it also reflects confidence in our national economy.
