Qatar's total public debt is expected to be QR369.2bn at the end of this year, according to the Ministry of Finance (MoF).
"For the remainder of 2021, the total external debt repayments stand at QR1.56bn. As a result, the anticipated total public debt figure as of the end of 2021 should stand at QR369.2bn," the ministry said in its public budget statement for second quarter of 2021.
The document had said the country’s budget balance recorded QR3.8bn surplus in the second quarter of this year on revenues, driven by higher-than-budgeted oil prices and collection of corporate tax; and lower expenditure.
The country's total public debt witnessed a decline of 2.9% for the period ending June 30, 2021, as a result of delivering on the scheduled debt redemption plan, for both external and domestic debt.
The total public debt reached QR370.8bn by the end of the second quarter of 2021. Redemptions of external debt amounted to QR13.7bn, while domestic debt redemptions stood at QR0.95bn.
"There were no new issuances for the period, except for an incremental ECA drawdown," it said.
Total domestic public debt stood at QR152bn, as of June 30, 2021, which represents 41% of the overall public debt. The composition of domestic debt includes local bonds and loans.
The finance ministry said total external public debt stood at QR218.8bn by the end of June 2021 compared to QR229bn at the end of March 2021.
Debt repayments for the period decreased the share of external debt by one percentage point as it declined from 60% to 59% of the total public debt.
The 2021 budget statement had said the total public debt was estimated to have fallen by 4.3% year-on-year to QR381.7bn by the end of 2020, which includes both internal and external public debt.
This was achieved as a result of paying instalments due during the year, besides early redemption of some internal debts.
Global credit rating agency Capital Intelligence (CI), in its latest report, had said while the Qatar government has registered budgetary surpluses over the past years, gross sovereign debt has increased due to several large international bond issues.
It reached a moderate-to-high 71.6% of GDP (gross domestic product) in 2020, from 62.3% in 2019, on the back of a $10bn international bond issue in April 2020 alongside a sharp contraction in nominal GDP.
"Going forward, CI's baseline scenario anticipates debt dynamics to reverse and forecasts a decrease in government debt to 52.2% of GDP in 2022 as we expect budget surpluses to increase and the size of international bond issuances to decrease," it had said.
Another credit rating agency Standard and Poor's had in its report said Qatar is slated to have the least government debt as a proportion of the GDP in the Gulf Co-operation Council (GCC).
"For the remainder of 2021, the total external debt repayments stand at QR1.56bn. As a result, the anticipated total public debt figure as of the end of 2021 should stand at QR369.2bn," the ministry said in its public budget statement for second quarter of 2021.
The document had said the country’s budget balance recorded QR3.8bn surplus in the second quarter of this year on revenues, driven by higher-than-budgeted oil prices and collection of corporate tax; and lower expenditure.
The country's total public debt witnessed a decline of 2.9% for the period ending June 30, 2021, as a result of delivering on the scheduled debt redemption plan, for both external and domestic debt.
The total public debt reached QR370.8bn by the end of the second quarter of 2021. Redemptions of external debt amounted to QR13.7bn, while domestic debt redemptions stood at QR0.95bn.
"There were no new issuances for the period, except for an incremental ECA drawdown," it said.
Total domestic public debt stood at QR152bn, as of June 30, 2021, which represents 41% of the overall public debt. The composition of domestic debt includes local bonds and loans.
The finance ministry said total external public debt stood at QR218.8bn by the end of June 2021 compared to QR229bn at the end of March 2021.
Debt repayments for the period decreased the share of external debt by one percentage point as it declined from 60% to 59% of the total public debt.
The 2021 budget statement had said the total public debt was estimated to have fallen by 4.3% year-on-year to QR381.7bn by the end of 2020, which includes both internal and external public debt.
This was achieved as a result of paying instalments due during the year, besides early redemption of some internal debts.
Global credit rating agency Capital Intelligence (CI), in its latest report, had said while the Qatar government has registered budgetary surpluses over the past years, gross sovereign debt has increased due to several large international bond issues.
It reached a moderate-to-high 71.6% of GDP (gross domestic product) in 2020, from 62.3% in 2019, on the back of a $10bn international bond issue in April 2020 alongside a sharp contraction in nominal GDP.
"Going forward, CI's baseline scenario anticipates debt dynamics to reverse and forecasts a decrease in government debt to 52.2% of GDP in 2022 as we expect budget surpluses to increase and the size of international bond issuances to decrease," it had said.
Another credit rating agency Standard and Poor's had in its report said Qatar is slated to have the least government debt as a proportion of the GDP in the Gulf Co-operation Council (GCC).