Qatar Q2 budget shortfall hits 21.2 billion riyals amid Hormuz disruption
Qatar reported a 21.2 billion-riyal ($5.8 billion) second-quarter budget shortfall, nearly double the prior quarter, with Iran war disruption choking LNG exports via the Strait of Hormuz.
8 billion) second-quarter budget shortfall, its widest quarterly deficit since 2016, as the Iran war choked off most of its liquefied natural gas exports through the Strait of Hormuz. The shortfall was almost double the previous quarter’s, and there are few signs that passage through the strait is easing. Fitch Ratings affirmed Qatar’s AA sovereign rating last week and kept the outlook negative, citing the prolonged disruption to exports through Hormuz.