Qatar’s state budget surplus fell to 9.3 percent of quarterly economic output in the third quarter of its 2010/11 fiscal year as spending jumped, exceeding full-year plans, data showed on Monday.
Qatar’s surplus dropped to 12.1 billion riyals ($3.3 billion) in October-December last year from 19.4 billion, or 16.4 percent of gross domestic product in the previous three months, the central bank’s preliminary estimates showed.
Revenue almost doubled to 132.3 billion riyals in October-December from the same period of the previous year, bringing cumulative income for the first three fiscal quarters to 146 percent of the 2010/11 plan.
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