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LNG exports plunge by 90%: Qatar’s quarterly fiscal deficit hits nearly a ten-year high, with economic contraction expected to exceed 8% this year
Qatar's budget deficit in the second quarter reached approximately $5.8 billion, marking the highest level since the end of 2016 and nearly double that of the previous quarter. Following the blockade of the Strait of Hormuz, Qatar's liquefied natural gas (LNG) exports plummeted from about 20 million tons per quarter in the same period last year to less than 2 million tons during April to June 2026. According to the IMF, Qatar's economy is expected to contract by more than 8% this year.
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