Dubai- Massader News
Qatar will base its state budget on an oil price of $40 a barrel, well below the expected market price, as the gas-rich Gulf nation seeks to avoid budget deficits similar to regional peers, according to Bloomberg.
“To avoid negative economic consequences due to oil price volatility, we have instructed that the state budget be based on an oil price of $40 a barrel, which is lower than the expected price,” Sheikh Tamim bin Hamad Al Thani told members of the country’s legislative body, the Shura Council, in a speech on Tuesday.