Qatar records high fiscal surplus in 9 months

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.

Article by Links Group on May 10th 2012