The state budget for the fiscal year 2021, approved by His Highness Sheikh Tamim bin Hamad Al Thani, Emir of the country, today, has allocated 72.1 billion riyals of the total expenditures for the year 2021 for major projects.
His Excellency Mr. Ali Shareef Al-Emadi, Minister of Finance, said that these allocations include adding new projects, while continuing to work on completing the state’s development projects in various sectors and those related to hosting the 2022 World Cup, in addition to allocations for the development of citizens’ lands, and the accompanying expenses related to the implementation of infrastructure projects. Substrate.
His Excellency announced, in a press statement today, that the total estimated revenues for the state budget for the fiscal year 2021, approved by His Highness the Emir of the country, amounted to 160.1 billion riyals.
He said that the general budget for 2021 was based on an estimate of the price of oil at the level of $ 40 a barrel, which reflects the state’s continued adoption of a conservative policy in estimating revenues to maintain the financial balance and limit the effects of oil price fluctuations on the performance of the state’s general budget.
His Excellency added that the total planned expenditures amount to 194.7 billion riyals during 2021, and that the expected deficit is estimated at 34.6 billion riyals, as the Ministry of Finance will work to cover it through available cash balances or by issuing domestic and foreign debt instruments if the need arises.