Qatar is facing a budget deficit for the first time in 15 Years
Roudao - Arbil , predicted the Ministry of Development Planning and country statistics, a shortfall in the 2016 budget year for the first time in 15 years, due to the large drop in oil prices and declining hydrocarbon revenues.
Issued the ministry, the new issue of the report , " the economic prospects of the State of Qatar from 2016 to 2018," said "in anticipation of the survival of low oil prices in 2016, is expected to decline nominal GDP in 2016, then re - rise in 2017 to up to 9 percent, and 2018 to reach 9.1 percent." the report added that "because of the large drop in oil prices and declining hydrocarbon revenues, it is expected to get a deficit in the budget year 2016 for the first time in 15 years, and up slightly from 8% of nominal GDP is lower. " he pointed out that" if you continue the recent rise in oil prices, it will protect the investment income and will be the budget lower deficit than expected, the estimated breakeven price of oil in the fiscal balance of $ 61.5 a barrel in 2016, and more than $ 65 a barrel in the years 2017 and 2018 ". for his part, Saleh bin Mohammed grows, Minister of development planning and Statistics said that precautions large financial Qatar to provide adequate protection against any decline in the price of oil , pointing to the importance of diversifying the economy and protect it from sudden fluctuations in oil prices.