Macroeconomic Forecast Qatar

BMI View: Our forecasts assume that oil production (including natural gas liquids and condensates) will average 980,000 b/d in 2005 and 990,000 b/d in 2006, while gas production will rise from 43.1 bcm in 2005 to 47.4 bcm in 2006. If natural gas liquids and condensates are excluded, 2005 oil production will be 800,000 b/d. This will provide government revenues worth US$12.8bn (QAR 46.5bn). Together with an estimated US$2bn (QAR7.3bn) of gas revenues, and income from other sources, this should bring total government revenue to US$17.6bn (QAR63.9bn). This would be a 62% y-o-y increase, even higher than the government's 45% target.

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