Qatar’s fiscal balance and trade revenues have suffered from oil prices dropping below $70/B this year amid global trade wars and the unwinding of Opec+ production cuts. This has generated a $700mn deficit over the first nine months of the year making a full-year deficit of around $1bn likely by MEES estimates.

This will be the first deficit since Qatar posted a $2.2bn deficit in 2020, and another deficit is likely next year. The recently released 2026 budget has a $6bn deficit, although this is based on a conservative $55/B oil price assumption and the eventual deficit will likely be significantly smaller. (CONTINUED - 922 WORDS)

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