Qatar Says Budget Shows Economy Absorbed Saudi Boycott Impact - Bloomberg

Qatar Says Budget Shows Economy Absorbed Saudi Boycott Impact - Bloomberg:

"Qatar said it expects its budget deficit to decline next year as the economy absorbs the impact of the Saudi-led boycott.

The gas-rich country expects the shortfall to narrow to 28.1 billion riyals ($7.6 billion) from 28.4 billion in 2017, the Finance Ministry said in an emailed statement. Spending will increase to 203.2 billion riyals, up 2.4 percent from 2017. Revenue is projected to increase 2.9 percent to 175.1 billion riyals, driven by non-energy income, the ministry said.

The data is the broadest indicator of how Qatar’s economy has performed since Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic and transport links with Qatar in June, accusing it of backing extremist groups. Qatar has repeatedly denied the charges and called for dialogue."



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