Qatar Economic Outlook Issue Number 13

Figure 2-42: Production of Electricity and Water 
-
25
50
75
100
125
150
175
200
6
8
10
12
14
16
18
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2019
2020
2021
M
illi
on
C
ub
ic
m
et
er
Ter
aw
at
t/h
ou
r
Electericity
Watar (R-axis)
Source: Planning and Statistics Authority

---

Qatar Economic Outlook 2021 - 2023 
94 
Meaning that revenues reduction was 
(20.3%) compared to (12.5%) reduction of 
expenditure. However, the improvement in oil 
and gas prices during the first three quarters 
of 2021 led to a surplus of about 1.0% of 
GDP. 
 
Public Revenues 
Total public revenues in 2020 amounted to 
about QR 171.2 billion, equivalent to $47 
billion. These revenues constitute about 
32.6% of GDP and derive primarily from oil 
and gas incomes at 51.3% of the total public 
revenues, while the investment revenues of 
Qatar Energy (QE) constitute 26.6%, and all 
other revenues constitute 22.2%, as shown in 
Figure (2-44). 
On the other hand, preliminary calculations 
for actual revenues in 2020 show a decrease 
of 18.9% compared to what was planned (or 
expected) in the 2020 budget, but when 
compared against what has been collected in 
2019, these declined by about 20.3%. This is 
mainly due to the decrease in the contribution 
of oil and gas revenues by about 11.3 
percentage points, followed by a drop-in 
investment returns from QE by 5.8 
percentage points, followed by the decline of 
the contribution of other non-oil revenues by 
3.2 percentage points. 
Public revenues were estimated in the 2021 
budget to be about QR 160.1 billion, similar 
in magnitude to what was estimated in the 
2020 budget. However, they are 6.5% less 
than what has been collected in 2020, mainly 
due to the adoption of cautious assumptions, 
including the conservative forecasts of export 
quantities and prices of hydrocarbon 
products, where the 2021 budget was 
prepared on the basis of oil selling at $40 per 
barrel compared to $55 per barrel during the 
period (2018-2020). 
As for the revenues collected during the first 
three quarters of 2021, about QR 142.2 
billion, equivalent to 89% of the total planned 
in the budget, but with an increase of 7.9% 
over what was actually collected during the 
same period in 2020.