Iranian strikes on the Ras Laffan complex and a blockade of the Strait of Hormuz have cut Qatar’s LNG export capacity by 17%, translating to approximately $20 billion in annual revenue losses. Qatar’s Q1 2026 budget deficit reached QR10.3 billion ($2.83 billion), more than 20 times larger than the same period a year earlier, with revenues falling 23.5% year-over-year. To bridge the gap, Doha issued approximately $3 billion in bonds, its first major debt issuance in years. GDP forecasts vary significantly: S&P projects a 5% contraction while Capital Economics sees a potential 14% decline, with Ras Laffan repairs expected to take three to five years.
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