FINANCIAL NEWS

Qatar’s fiscal surplus hits USD7.32b in 9 months

10 May 2012

(MENAFN) The Arab Monetary Fund (AMF) stated that during the first 9 months of Qatar’s 2011-2012 fiscal year, the Arab Gulf country recorded a huge budget surplus of nearly USD7.32 billion, reported Emirates 24/7.

The AMF attributed the growth in the county’s surplus to higher oil prices and the increase in Qatar’s exports of liquefied natural gas (LNG).

The Abu Dhabi-based organization added that actual revenue grew to around USD41.41 billion, whereas spending is expected to have reached nearly USD34.08 billion.

It is worth noting that Qatar increased its annual LNG export capacity to 77 million tons, as the country finished huge projects at its massive offshore North Field, which includes around 25 trillion cubic meters of non-associated gas.

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