Qatar's budget surplus more than tripled to 44.5 billion riyals ($12.2 billion) in the fiscal year ended in March, double the original plan and helped by booming revenues from liquefied natural gas, a prospectus for the country's potential Islamic bond issue showed on Monday.
Qatar is the world's top exporter of liquefied natural gas and its fiscal surplus for 2011/12 was equivalent to 7 percent of 2011 gross domestic product, according to a Reuters calculation, up from the original 22.5 billion-riyal plan.
That puts the government in a comfortable position as it plans to spend more than 10 percent of GDP on average on infrastructure in the run-up to hosting the soccer World Cup tournament in 2022.
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