Qatar's Q3 2026 Budget Deficit Widens to $6.2 Billion as Spending Outruns Revenue
Ministry of Finance figures show quarterly revenue of $4.698 billion against $10.962 billion in spending, with the full-year shortfall to be met through debt.
Qatar closed the third quarter of 2026 with a budget deficit of QAR 22.8 billion ($6.2 billion), wider than the $5.8 billion recorded in the previous quarter, as government spending continued to outpace revenue.
Ministry of Finance figures put quarterly revenue at about $4.698 billion (QAR 17.1 billion) against expenditures of roughly $10.962 billion (QAR 39.9 billion). Oil brought in $2.953 billion (QAR 10.748 billion). Non-oil sources contributed $1.738 billion (QAR 6.327 billion).
Salaries and wages formed the largest single outlay at $4.631 billion (QAR 16.9 billion). Current expenditures reached $4.241 billion (QAR 15.4 billion), major capital spending $1.89 billion (QAR 6.9 billion) and minor capital spending $193.96 million (QAR 706 million).
For the full 2026 fiscal year, the ministry projects total revenue of $54.67 billion (QAR 199 billion), 1% above the 2025 budget. The estimate assumes an average oil price of $55 a barrel, which the ministry calls a conservative basis for fiscal sustainability and resilience to market fluctuations.
Estimated expenditure for the year is about $60.7 billion (QAR 220.8 billion), 5% higher than in 2025. That leaves an expected annual deficit of $5.99 billion (QAR 21.8 billion), to be covered with local and external debt instruments.
Funding the gap through borrowing rather than curtailed spending keeps the capital programme intact while oil receipts remain uncertain, but it also locks the 2026 financing plan to a $55 barrel assumption. Revenue growing at 1% against spending growth of 5% means higher receipts alone will not close the shortfall.
The ministry will set out the State Public Budget at a press conference on Wednesday, December 10, 2026, where its key directions and priorities are due to be discussed.
