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Qatar may not need to issue an international bond in 2017 as pressure on the emirate’s state finances is easing, Finance Minister Sharif al-‘Imadi said this week. The minister added that with oil prices “close to breakeven levels,” though a new bond issue remains an option for 2017, no decision has been taken yet.
The Qatari budget announced in December was based on an oil price assumption of $45/B with a projected QR28.3bn ($7.8bn) deficit ( MEES, 23 December 2016 ): prices have averaged $55/B since the start of 2017.
Qatar in 2016 raised a $5.5bn international loan in January and in May issued $9bn in international bonds to partially cover its fiscal deficit. Domestically it issued bonds worth QR6.6bn in August and September. In December when the budget was unveiled, Mr ‘Imadi indicated that more of the same was in store for 2017. (CONTINUED - 299 WORDS)