Doha, March 04 (QNA) - The Ministry of Finance announced Monday that the State of Qatar's budget for the Q4 of the year 2023 recorded a surplus of QR 1.4 billion, taking the total surplus to QR 43.1 billion.
The surplus was directed to reducing public debt, and therefore there is no cash surplus, the Ministry posted on X.
The total budget revenues for the Q4 of 2023 amounted to QR 55.6 billion - QR 51 billion from oil revenues, and QR 4.6 billion non-oil revenues, a10-percent decrease versus the previous quarter. The total expenditures in the same quarter of 2023 amounted to QR 54.2 billion, a 8.9-percent increase compared to the previous quarter. A total of QR 16.9 billion was directed for salaries and wages and QR 17.8 billion for current expenses, while secondary capital expenditures amounted to QR 1.8 billion and major capital expenditures amounted to QR 17.7 billion, the statement added.
Across the year 2023, the total surplus of QR 43.1 billion was distributed as follows: QR 1.4 billion riyals for Q4, which is the least, QR 19.7 billion for Q1, which is the largest, followed by QR 12 billion for Q3 and QR10 billion for Q2.
The Ministry noted that the budget surplus of the third quarter would be directed to repay government debts and enhance reserves, while the Q2 surplus would be utilized according to the state financial policies including reducing public debt, raising the Qatar Central Bank's reserves, and enhancing the savings of future generations through the Qatar Investment Authority. (QNA)