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FINANCIAL NEWS
Qatar’s next fiscal year’s budget to rise slightly
13 Mar 2012
(MENAFN) Qatar’s finance and economy minister, Youssef Kamal, said that next fiscal year’s budget would be a little higher than the current one, reported Arabian Business.
Kamal added that in its 2011/12 budget, Qatar planned spending worth USD38.4 billion and a 4.9 percent of gross domestic product (GDP).
On the other hand, Qatar’s state news agency said that the deadline for releasing the state budget for the next fiscal year 2012/2013, which starts on April 1, would be postponed to the end of May due to changes to the government’s accounting system.
It is worth noting that in September; the government raised basic salaries and social benefits for the state’s civilian employees by 60 percent, whereas military staff received 50-120 percent increases.
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