Qatar Records $255M Q4 2024 Surplus; Revenue Declines 12.5% to $13.3B
Oil Revenue Declines, Non-Oil Sector Contributes to Budget Surplus

Qatar Posts $255M Budget Surplus in Q4 2024 Amid 12.5% Revenue Decline
Qatar has recorded a budget surplus of $255 million (QAR 930 million) in the fourth quarter of 2024, aimed at reducing public debt, which has left it with no cash surplus, the country’s finance ministry said.
The budget of Qatar
In the fourth quarter, the Gulf nation reported total revenue of $13.3 billion (QAR 48.7 billion), up from $14.1 billion (QAR 51.3 billion) in the quarter before. Total revenue decreased by $2 billion, or 12.5%, from the previous year.
Total expenses were $13.1 billion (QAR 47.8 billion), down 12% from the previous year.
Oil revenue was $11.5 billion (QAR 42.1 billion), while non-oil revenue was $1.8 billion (QAR 6.6 billion).
The state-run Qatar News Agency reported last month that Finance Minister Ali bin Ahmed Al Quwari said that Qatar’s budget is projected to bring in $53.8 billion in revenue and $57.4 billion in expenses in 2025, leaving a $3.6 billion deficit.
Finance Minister Ali bin Ahmed Al Quwari was cited by the ews Agency.
The health and education sectors have been given $11.3 billion, or 20% of the entire budget. According to Al Quwari, the funding demonstrates Qatar’s dedication to fostering the growth of human capital and raising the standard of public services.
In March last year, ratings agency Fitch upgraded Qatar’s rating to AA- from AA-, citing the strength of the country’s balance sheet and its continued improvement. It also predicted that LNG sales would ensure that it would generate a budget surplus for the next decade.
Fitch said that Qatar’s North Field project would generate a budget surplus throughout the 2030s. This has improved the country’s credit rating above the UK and France.
North Field Extension
Qatar Energy’s chairman and CEO Saad Al-Kaabi said in February 2024 that the business would explore contractual negotiations with external partners to support the country’s offshore North Field development.
Qatar plans to announce more gas sales deals with consumers in Asia and Europe. In recent years, Qatar Energy has entered into deals with foreign energy companies to acquire significant stakes in North Field South and North Field East.