Qatar’s budget for fiscal year 2012-13 tells a great about the country’s direction, namely racing against time to attain its potentials. Suffice to say that projected expenditures and revenues are up by 27 per cent and 26 per cent respectively compared to originally budgeted figures for 2011-12.
Like Kuwait, fiscal year in Qatar starts in April and ends in March though for no apparent significance other than historical practices. Surprisingly, Qatari authorities delayed release of the budget for the new fiscal year for several weeks without providing sufficient justification. Undoubtedly, the only undermines the country’s record of being ahead of regional countries in releasing state-controlled reports.
At any rate, the budget puts expenditures at a record $48.9 billion as opposed to $38.5 billion in fiscal year 2011-12, undoubtedly an exceptional rise in spending in a single year.
No comments:
Post a Comment