Qatar's revenues fell by 42% in the first half of the year, while government spending was cut by 14%, which did not affect essential services or priority development projects - Emir Tamim bin Hamad Al Thani said today. The decrease in income is related to the closure of the Strait of Hormuz and the damage to the energy facilities in Ras Lafan, which disrupted a significant part of the country's exports. Qatar accounts for about a fifth of the global liquefied natural gas (LNG) market, so these disruptions could become a source of instability for global energy markets.

Qatar's revenues fell by 42% in the first half of the year, while government spending was cut by 14%, which did not affect essential services or priority development projects - Emir Tamim bin Hamad Al Thani said today. The decrease in income is related to the closure of the Strait of Hormuz and the damage to the energy facilities in Ras Lafan, which disrupted a significant part of the country's exports. Qatar accounts for about a fifth of the global liquefied natural gas (LNG) market, so these disruptions could become a source of instability for global energy markets.