Qatar's Government Revenue Plunges 42% In First Half As Iran War Knocks Out Gas Exports

What happened: Qatar's government revenue fell 42% in the first half of 2026, Emir Sheikh Tamim bin Hamad Al Thani told the Shura Council, after the Iran war and the closure of the Strait of Hormuz hit gas exports. Key numbers: Revenue -42% in H1 2026; public spending -14%; Q2 deficit QR21.2 billion versus QR10.3 billion in Q1; H1 deficit about Why it matters: The emir said the crisis would have a negative impact on public finances but pledged not to cut essential services or alter development goals, citing reserves and lower public debt. Fitch removed Qatar from its downgrade watch list.

Qatar's government revenue fell 42% in the first half of 2026, Emir Sheikh Tamim bin Hamad Al Thani told the Shura Council, after the Iran war and the closure of the Strait of Hormuz hit gas exports.

The emir said the crisis would have a negative impact on public finances but pledged not to cut essential services or alter development goals, citing reserves and lower public debt. Fitch removed Qatar from its downgrade watch list.