The Strait of Hormuz crisis hit Qatar's economy: Budget deficit rose to 2.5 times the estimates

Qatar’s budget deficit for the first nine months of the year reached $14.9 billion, roughly 2.5 times the level projected for all of 2026, after the Strait of Hormuz crisis disrupted energy shipments. The standoff between the US and Iran caused Qatar’s oil and natural gas revenues to fall 75.2% in the third quarter. The shortfall highlights the Gulf state’s exposure to shipping chokepoints even as it positions itself as a global LNG supplier. Investors will watch whether Doha draws on reserves or cuts spending, and whether Hormuz flows normalize enough to restore energy revenue in the fourth quarter.