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FINANCIAL NEWS
Qatar’s gov’t to boost spending by 18%
02 Apr 2013
(MENAFN) Qatar’s Finance and Economy Minister, Youssef Kamal, stated that during the 2013/14 fiscal year, the government plans to increase its spending by 18 percent, reported Gulf Daily News.
The USD57.8 billion spending budget is likely to support infrastructure projects, as the emirate is preparing the host the 2022 World Cup.
The country predicts to spend USD140 billion until 2022 on the infrastructure-building program that includes a rail system, a new airport, a seaport, and hundreds of kilometers of new roads and stadiums for the football tournament.
It is worth noting that the Qatari Amir endorsed a budget with revenues of USD59.87 billion and a surplus of USD2.03 billion for the current fiscal year.
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