Qatar state spending up 13 pct last FY, slowest in 11 yrs | Reuters

Qatar state spending up 13 pct last FY, slowest in 11 yrs | Reuters:



"Qatar's state spending increased 12.7 percent last fiscal year, the lowest rate in 11 years, as slow growth in current expenditure offset a sharp rise in funds spent on infrastructure projects, data showed on Sunday.



Expenditure rose to a record high of 231.7 billion riyals ($63.6 billion) in the year that ended in March, from 205.6 billion riyals in 2012/13, preliminary finance ministry data released by the central bank showed.



Last year's spending was 10 percent more than initially planned. But the margin by which actual spending overshot the plan was the lowest in five years, suggesting the government has begun reining in excesses of the previous four years, when on average it spent almost a quarter more than originally planned."



'via Blog this'