A surge in oil prices and Qatar’s LNG exports allowed the Gulf country to record a massive budget surplus in the first nine months of its 2011-2012 fiscal year, according to official data. Qatar had projected spending at around QR139.9 billion (Dh141 billion) and revenue at QR162.47 billion (Dh163.5 billion) for its previous fiscal year which ended on March 31, creating a surplus of QR22.53 billion. But the actual balance widened to around QR26.7 billion in the first nine months of that year and could have expanded further by the end of the year. The surplus came after actual revenue reached around QR150.9 billion and is projected to have largely exceeded the budgeted level because of higher oil prices and LNG sales, the Abu Dhabi-based Arab Monetyary Fund (AMF) said in a report, citing Qatari government data. It put spending at around QR124.2 billion, which is also expected to have surpassed the forecast expenditure by the end of the fiscal year. Qatar has assumed a conservative oil price of $55 a barrel for its 2011-2012 budget but average rude prices have remained above $100. The country, which controls the world’s third largest gas resources after Russia and Iran, has also boosted LNG export capacity to 77 million tonnes per year following the completion of mega projects at its mammoth offshore North Field, home to nearly 25 trillion cubic metres of non-associated gas. Qatar, an OPEC member, became the richest nation on earth in 2011 in terms of GDP per capita because of enormous oil and gas wealth and relatively small population of around 1.9 million.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor