Qatar's government revenue fell 42% in first half due to Iran war, Emir says
Emir Sheikh Tamim told a Shura Council meeting that Qatar's total revenues fell 42 per cent in the first half of the year while public expenditure decreased by 14 per cent, after LNG exports dropped because of the Iran war and the effective closure of the Strait of Hormuz. About 17 per cent of Qatar's LNG capacity is offline after Iranian strikes damaged two of its 14 export trains, removing 12.8 million tonnes a year, and QatarEnergy has said repairs will take three to five years. The World Bank projects Gulf economies to contract by an average of 4.3 per cent in 2026, with Qatar's economy estimated to contract 20.9 per cent, while the IMF expects a 15.6 per cent contraction this year before growth of 18.8 per cent in 2027.
Why it matters: The item concerns energy security: the closure of the Strait of Hormuz and damage to the Ras Laffan complex have removed Qatari LNG supply from world markets, raising gas prices and cutting the government revenue of a major exporter.