Qatar's five year surpluses hit $32.2 bln

Qatar has accumulated fiscal surpluses of 124.6 billion Qatari riyals ($34.2 billion) over the last five years due to rising oil and gas revenues and due to a growth in returns on its investments, Doha-based Al Arab daily reported on Thursday.

This coincided with massive spending on public projects and other projects at an annual growth rate of no less than 30 percent, the paper reported citing central bank data.

The world's largest exporter of liquefied natural gas has accumulated revenues of 460.9 billion riyals over the last five years while it spent 336.3 billion riyals over the same period, Al Arab added.

Most of the country's surpluses are invested overseas through its sovereign wealth fund, the Qatar Investment Authority, the daily said.END