Qatar Posts $26 Bln Budget Surplus In July-Sept

Qatar's government budget leaped into a large surplus of QAR94.6bn (US$26bn) in the July-September period, the second quarter of its 2012/13 fiscal year, preliminary central bank data showed on Thursday.
.
The fiscal surplus of the world's number one exporter of liquefied natural gas was equivalent to 53.9 percent of gross domestic product in the period, according to the central bank.
.
It was more than double the QAR42.2bnl surplus recorded in the same quarter of the previous year, and compared with an QAR18.5bn deficit in April-June. That put the cumulative surplus at QAR76.1bn in April-September.
.
Because of the timing of revenue flows, Qatar's budget usually records deficits in the first quarter of its fiscal year, which begins in April, and then bounces back into surplus for the rest of the year.
.
Read more: http://www.arabianbusiness.com/qatar-posts-26-bln-budget-surplus-in-july-sept-488697.html