The International Monetary Fund (IMF) expects Qatar's budget surplus to grow 57.6 per cent in 2023 to QR70.3 billion ($19.31 billion), compared to QR44.6 billion ($12.25 billion) forecast for 2022.

 

The IMF's staff reports estimated that Qatar's expenditures for 2023 would be relatively stable at QR236 billion, compared to QR235.4 billion in 2022, said a Qatar News Agency report.

 

Qatar's fiscal budget set the price of oil at an average price of $55 a barrel. Expenditures were set at QR204 billion compared to revenues of QR196 billion, a deficit of QR8 billion.

 

The IMF forecast state revenues to rise 9.4 percent to QR306.3 billion, compared with QR280 billion forecast for 2022.

 

The increase was driven primarily by growth in investment income from public enterprises from QR82.3 billion expected in 2022 to QR121.4 billion next year.

 

IMF also expects Qatar to generate QR54 billion in revenue from oil, and QR73.3 billion from LNG in 2023.