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FINANCIAL NEWS
Qatar’s foreign reserves at USD23.1b
17 Jul 2012
(MENAFN) Qatar’s General Secretariat for Development Planning announced that at the end of April, the country’s official foreign reserves stood at USD23.1 billion, compared with a record high of USD30.7 billion in December 2010, reported Qatar News Agency.
It said that through the year to April 2012, credit growth increased by 35.3 percent.
According to the Qatar’ Economic Outlook for 2012-2013, credit to the personal sector jumped by 14.1 percent, whereas credit to the corporate sector soared by 80.1 percent.
The government’s expenditure for 2012/2013 is expected to post an increase of 28 percent compared with fiscal year 2011/2012.
It is worth noting that programmed expenditure related to major capital projects is forecasted to represent nearly 25 percent of total expenditure, a growth of more than 30 percent compared with the previous fiscal year.
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