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FINANCIAL NEWS
Qatar to increase fiscal year budget: Finance Minister
15 Mar 2011
(MENAFN) Qatar’s Minister of Finance and Economy, Youssef Hussein Kamal, said that the country would witness a year on year considerable increase in the budget allocated for its coming financial year, reported Arabian Business.
The minister said that the increase was due as the country would take on additional infrastructure projects which would account for forty percent of the total budget.
The minister did not disclose the new budget. However, he emphasized it would be more than the current financial year’s budget at USD32 billion.
It is worth noting that Qatar is planning and implementing multi-billion infrastructure and development projects in preparation of the FIFA 2022 World Cup that was awarded to Qatar last year.
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