Qatar Spending To Rise 3.7% To $60bn In 2014/15 » Gulf Business

Qatar Spending To Rise 3.7% To $60bn In 2014/15 » Gulf Business:



"Qatar plans to increase government spending by 3.7 per cent to QAR218.4 billion ($59.98 billion) in the 2014/15 fiscal year, the QNA state news agency said on Sunday, quoting from a budget approved by the Gulf state’s ruler.



The OPEC member state expects a record QAR225.7 billion in revenues, up from QAR218 billion in the previous year’s budget, the agency said. The calculations are based on an assumed oil price of $65 a barrel, QNA added.



The budget is “the largest in the history of the state of Qatar,” Finance Minister Ali Sherif al-Emadi said, according to the agency.



Qatar, the world’s top liquefied natural gas (LNG) exporter, is expected to implement a massive infrastructure building programme in preparation to host the 2022 World Cup soccer tournament."



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