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FINANCIAL NEWS
Qatar’s 2010/2011 surplus to climb to 10.5% of GDP
29 Dec 2010
(MENAFN) The Abu Dhabi-based Arab Monetary Fund (AMF) revealed in a report that Qatar’s fiscal surplus for 2010-2011 will increase to a record 10.5 percent of gross domestic product (GDP), due to accelerating gas revenues, Arabian Business reported.
However, as a result of high spending as part of Qatar’s counter-crisis fiscal expansion measures, the current surplus of $2.66 billion will remain lower than the surplus recorded in the previous fiscal year which starts on April 1, the report showed.
According to Qatar’s Finance Minister, Youssef Kamal, spending in the 2010-2011 financial year will at least match the $32 billion budgeted for 2010/11, and 40 percent of the budget through 2016 will be allocated for infrastructure projects.
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