Qatar’s commitment to enhancing human capital development and improving public service quality has been reflected on Qatar’s general budget for 2025. Two key sectors – education and health have been allocated a significant outlay they deserve – QR41.4bn, which accounts for 20% of the total budget. Strategic sectors such as trade and industry, research and innovation, tourism, digital transformation, and information technology have also been allocated significant resources to support economic diversification and sustainable development efforts. These sectors play a vital role in shaping a knowledge-driven, innovative economy. This underscores Qatar’s commitment to the development of its nationals, recognising that the development of human capital is vital for the progress of all other sectors, be it economic or social. Qatar’s 2025 budget approved by His Highness the Amir Sheikh Tamim bin Hamad al-Thani clearly aligns with the country’s plans and strategies to support its ongoing economic growth and achieve economic diversification within the framework of the Qatar National Vision (QNV) 2030. The budget for fiscal 2025 expects total revenues of QR197bn and an expenditure of QR210.2bn with an anticipated deficit of QR13.2bn. According to HE the Minister of Finance Ali bin Ahmed al-Kuwari, Qatar has set an oil price of $60 per barrel in preparing the budget. HE al-Kuwari said, “Qatar continues to adopt a conservative approach in estimating oil and gas revenues, with an average oil price of $60 per barrel. This approach aims to enhance financial flexibility and ensure spending stability.” The minister noted that Qatar’s total expected revenues for the 2025 fiscal year budget are estimated at QR197bn, reflecting a 2.5% decrease compared to the 2024 budget revenues. He stated, “The anticipated oil and gas revenues for 2025 are QR154bn, down from QR159bn in the 2024 budget, marking a 3.1% decrease. Non-oil revenues for 2025 are estimated at QR43bn, which remains unchanged from 2024 levels.” The budget projection of QR43bn non-oil revenues reflects the country’s focus on non-oil sectors as part of its economic diversification policies and efforts to establish alternative income sources alongside gas and oil. Al-Kuwari said total expenditures projected at QR210.2bn next year, showed a 4.6% increase compared to 2024. He noted the expected budget deficit of QR13.2bn will be financed through local and external debt instruments, as required. Allocations for salaries and wages are set to rise by 5.5% in 2025 compared to 2024, totalling QR67.5bn. Current expenditures will see a 6.3% increase, while secondary capital expenditures are expected to grow by 7.7%. Meanwhile, major capital expenditure allocations will experience a modest 1.4% increase to ensure the ongoing implementation of strategic and developmental projects. Qatar’s economy has shown itself to be resilient following the World Cup in 2022. Caution over fluctuating oil price, reduction of national debt, and promoting private sector employment are among the priorities. The budget underscores the effectiveness of sound economic policies and strategies adopted by Qatar, particularly in achieving economic diversification in line with Qatar National Vision 2030. It aligns with the Third National Development Strategy, focusing on economic diversification and building a knowledge- and innovation-based economy. The budget clearly reflects the wise leadership’s commitment to further strengthening the national economy and fostering sustainable development.
