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FINANCIAL NEWS
Qatar’s 2010-2011 investment income falls by 33%
24 Oct 2011
(MENAFN) Qatar’s Central Bank said that during fiscal year 2010-2011, the country’s investment income fell by 33 percent, reducing total revenue by around USD3.8 billion, reported Emirates 24/7.
The bank added that in the period, Qatar’s investment income declined to USD9.8 billion, compared with USD14.8 billion recorded in the 2009-2010 fiscal year.
It also said that as a result of the government’s new tax policy, revenues collected from various fees and taxes dropped 29.2 percent to USD2.6 billion, on the other hand, oil and gas revenue surged to USD26.6 billion from USD22.7 billion, due to an increase in the country’s output and a sharp rise in global oil prices.
It is worth noting that total revenue contracted to USD42.8 billion from around USD46.4 billion.
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