Qatar budgets QR200bn for public spending

Qatar hopes to earmark more than QR200bn (about $55bn) for public spending in its budgetary estimates for the current fiscal year (2013-14) that begins from today and lasts until March 31, 2014.

The budgetary outlay for spending in the previous budget (2012-13) was QR178bn ($48.76bn).

The current budget is to be based on an oil price of $65 per barrel — unchanged from the previous financial year.

The conservative crude price of $65 per barrel is to make sure that the budgetary outlay in the current budget for spending on infrastructure development projects is covered. Dr Ibrahim Al Ibrahim (Pictured), Economic Advisor at the Emiri Diwan, told local Arabic daily

Al Arab that increased allocations for public spending in successive annual budgets were to ensure the growth of the non-energy sector and create a balance in the state’s revenue sources.

Read more: http://thepeninsulaqatar.com/qatar/231326-qatar-budgets-qr200bn-for-public-spending.html