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FINANCIAL NEWS
Qatar’s 2010 budget spares 5.3b
02 Feb 2011
(MENAFN) Official data said that Qatar’s state budget spared a total of $5.3 billion, 17.5 percent of annual economic output, in the third quarter of 2010, reported The Peninsula.
The surplus was a result of a 100% increase in Qatar’s revenues, which were enhanced by higher gas output.
Qatar, the world’s largest liquefied natural gas exporter, took advantage of high oil prices and gas output expansion to increase its spending by 25 percent in the current fiscal year.
It is worth noting that Qatar is preparing to host the 2022 soccer World Cup, therefore it plans on having a budget of $100 billion to start with new infrastructure projects including road and rail networks as well as air-conditioned stadiums over the next five years.
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