💢 Qatar has slashed government department budgets by up to 30% and cut funding for overseas aid by a

💢 Qatar has slashed government department budgets by up to 30% and cut funding for overseas aid by about 85%, the Financial Times reports, as the US-Israel war against Iran takes an increasingly heavy toll on the Gulf state's finances.

Iranian drone and missile strikes on Ras Laffan, the world's largest LNG export facility, have damaged Qatar's main source of revenue. A second strike in March cut export capacity by 17%, with repairs expected to take up to five years, while disruption to shipping through the Strait of Hormuz has further constrained energy exports.

The IMF forecasts Qatar's economy will contract by 8.6% in 2026, the steepest decline among the six Gulf states. Goldman Sachs estimates Qatar and Kuwait are each losing a combined $1.5–2 billion a week in energy export revenues, while Doha is considering further spending cuts if the conflict continues into the final quarter of the year.

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