Qatar Economic Outlook Issue Number 13

Table 1-6: Qatar's budget for 2021 and 2022 
QR – billion 
2021 
(40$)
 
2022 
(55$)
 
Change 
% 
Oil Revenues
 
121.6 
154 
26.6
Non-Oil Revenues
 
38.5 
42 
9.1
Total Revenue
 
160.1 
196 
22.4
 
Salaries and Wages
57.9 
58.5 
1.0
Current Expenditure
60.7 
67.2 
10.7
Minor Capex
4 
4.6 
15.0
Major Projects
72.1 
74 
2.6
Total Expenditure
 
194.7 204.3 
4.9
 
 
Surplus/Deficit 
-
34.6
 
-
8.3
 
 
Source: MOF 

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Qatar Economic Outlook 2021 - 2023 
20 
For the aforementioned reasons, the current 
account of the balance of payments for 2021 
is expected to improve significantly. As Table 
(1-7) shows that it has already increased 
from negative 2.5% in 2020 to positive 11.7% 
during the first three quarters of 2021, and 
therefore it can be expected that the current 
account balance will continue to achieve high 
positive growth rates for the three scenarios 
during the period (2021-2023), assuming a 
continued growth in commodity export 
revenues while rationalizing imports, 
simultaneously moving towards repaying 
foreign loans to ease the burden of public 
debt service. 
As for the development path of export 
revenues, it is expected to undergo growth 
for all three scenarios during the period 
(2021-2023), from $70.9 billion in 2020 to 
high levels ranging between $94.9 billion and 
$100.3 billion.