Qatar's budget next year will be based on an assumed oil price of $55 per barrel and a ceiling of allocations for expenditure in the year is likely to be put at QR140 billion ($38.44 billion), according to report.

The current budget (April 2014 to March 2015) is based on an assumed crude price of $65 per barrel, said the Peninsula report.

The interim budgetary allocations are being made for nine months (April 1, 2015 to December 31, 2015), the daily said.

The revenue and expenditure estimates in the upcoming nine-month budget will likely be based on $65 per barrel.

Basing budgetary estimates on an assumed average global crude price per barrel of $55 in 2016 means Qatar will estimate it revenues based on that price, said the report.

Meanwhile, QR12 billion will be allocated for acquisitions of private properties for public projects in the coming 10 years, which means QR1.2 billion will be allocated for the purpose in each budget over the next 10 years.