Qatar emir says state revenue fell 42% in first half of year
Qatar’s emir reports a 42% drop in state revenue for H1, but says spending cuts have not affected essential services or development priorities.
Qatar's Emir, Sheikh Tamim bin Hamad Al Thani, disclosed that the nation's total revenue declined by 42% in the first half of the year. Despite the revenue drop, the emir assured that spending cuts have not hindered essential services or major development projects. At a meeting with the Shura Council, the emir highlighted the security and sovereignty of Gulf states as non-negotiable, expressing concern over an alleged Iranian attack on Qatar's territory.
This incident, the emir emphasized, constitutes a clear breach of sovereignty. The emir further explained that the closure of the Strait of Hormuz and damage to Ras Laffan facilities have caused significant disruptions to Qatar's exports, which constitute approximately one-fifth of the global liquefied natural gas trade. The emir underscored the importance of protecting the security and sovereignty of Gulf states in light of ongoing regional developments, and the subsequent economic and security implications.
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