Qatar hits budget surplus of $247 million

Qatar recorded a budget surplus of 900 million riyals ($247 million) for the third quarter of this year, Arab News quoted the data released by the country’s Ministry of Finance.

The total revenue for the quarter grew by a yearly rate of 20.6 per cent to reach 47 billion riyals.

Oil and gas revenue accounted for 87.7 per cent of the total income, while other revenue totalled 5.7 billion riyals.

The third quarter’s expenditures stood at 46.1 billion riyals, as it jumped 10.7 per cent from a year ago. For this year’s first nine months, the total budget surplus reached 4.9 billion riyals.