HH the Amir of State of Qatar Sheikh Tamim bin Hamad Al Thani yesterday, issued law no 23 of 2021 approving the state's general budget for the fiscal year 2022.
The law is effective as of January 1, 2022 and shall be published in the Official Gazette.
HE Ali bin Ahmed Al Kuwari, Minister of Finance, announced that the total revenue estimates in the 2022 budget amount to QR196.0 billion, which represents an increase of 22.4 percent compared to the 2021 budget estimates.
Al Kuwari said in press statement that the general budget for 2022 was based on an average oil price of $55 a barrel due to the remarkable recovery in global energy prices, which still reflects the continued adoption of conservative estimates of revenues in order to maintain fiscal balance and limit the effects of oil price fluctuations on the performance of public finances.
Source: Government of Qatar