The State of Qatar posted a budget deficit of QR0.8 billion during the second quarter of 2025, according to a statement issued by the Ministry of Finance (MoF) on Thursday. The deficit, covering the months of April through June, was financed through debt instruments.
The ministry shared the announcement via its official account on social media platform X, noting that total revenues for Q2 2025 reached QR59.8 billion—a slight decline of 0.1% compared to the same period in 2024.
Breaking down the revenue figures, the MoF reported that QR34 billion was generated from oil and gas sectors, while non-oil revenues contributed QR25.8 billion. Despite stable revenue inflows, an increase in government spending led to the quarterly shortfall.
Total public expenditure for Q2 2025 amounted to approximately QR60.6 billion, marking a 5.7% rise from the second quarter of 2024. The breakdown of expenditures revealed that QR18.3 billion was allocated to salaries and wages, QR21.9 billion to current expenditures, QR17.5 billion to major capital projects, and QR2.8 billion to minor capital expenditures.
The latest figures reflect a continued trend of fiscal imbalance in 2025. In the first quarter of the year, Qatar had recorded a smaller budget deficit of QR0.5 billion, with total revenues at QR49.4 billion and expenditures at QR49.9 billion.
The recurring budget deficits in the first half of 2025 come amid broader efforts by Qatar to manage its spending while maintaining investment in infrastructure and public services. While oil and gas remain the primary source of income, the government has continued to diversify its revenue streams, as reflected by the steady contribution from non-oil sectors.
As Qatar looks ahead to the second half of the year, fiscal observers will be monitoring whether the government continues to rely on debt instruments to manage budgetary shortfalls, or if a rebound in global energy prices might boost oil and gas revenues in the coming quarters.
