DOHA: Qatar will use a more conservative break-even oil price to base its budget on than the previously-used $65 a barrel, the country's finance minister said on Wednesday.

Ali Sherif Al-Emadi said Qatar's 2016 budget was in the final stages of preparation and will be presented soon.

Moody’s Investors Service in a report that while lower oil prices will negatively affect Qatar’s (Aa2 stable) government revenues, large financial assets provide a sizable buffer.

“Despite the oil price shock, real GDP growth in Qatar will likely remain relatively strong over the next two years. The government’s fiscal buffers and sizable assets will sustain public investment, which in turn will support non-hydrocarbon growth,” says Steffen Dyck, a VP-senior analyst at Moody’s.