Latest news with #RachnaUppal
Zawya
5 days ago
- Business
- Zawya
Qatar records budget deficit of $133mln in first quarter
DUBAI - Qatar recorded a budget deficit of 0.5 billion riyals ($133.31 million) in the first quarter of 2025, which was covered through debt instruments, the finance ministry said on Tuesday. Total revenue in the quarter stood at 49.4 billion riyals, down 7.5% from the same quarter last year. Non-oil revenue accounted for 6.9 billion riyals of total revenue. Government spending fell around 2.8% year-on-year to 49.94 billion riyals. Qatar, which is among the world's biggest exporters of liquefied natural gas (LNG), has stepped up efforts to diversify its economy away from hydrocarbons but remains reliant on gas revenue for the majority of government income. ($1 = 3.7506 riyals) (Reporting by Jana Choukeir; Editing by Andrew Heavens and Rachna Uppal)
Zawya
30-01-2025
- Business
- Zawya
Saudi Arabia GDP grew 1.3% in 2024, govt estimate shows
ABU DHABI - Saudi Arabia's economy returned to growth in 2024, with real gross domestic product increasing 1.3% compared to the prior year, showed preliminary government data released on Thursday. GDP growth surged 4.4% in the fourth quarter versus the same period a year earlier, estimates from the General Authority for Statistics showed, with non-oil activity increasing 4.6%. The Saudi economy shrunk 0.8% in 2023 as oil production cuts and lower oil prices hit growth in the world's biggest crude exporter. (Reporting by Rachna Uppal; Editing by Christopher Cushing)
