Qatar to Run Surplus, Keeps Brakes on Spending Before World Cup - Bloomberg:
Qatar will run a budget surplus for a second straight year in 2020 as infrastructure spending stagnates while it wraps up projects ahead of the soccer World Cup.
Next year’s fiscal plans foresee a surplus of 500 million Qatari riyals ($136.4 million), down from 4.4 billion riyals in 2019, according to a statement from the Ministry of Finance seen by Bloomberg News. The projection is based on average oil price of $55 per barrel, the same assumption the Gulf country used for this year’s budget.
Qatar will run a budget surplus for a second straight year in 2020 as infrastructure spending stagnates while it wraps up projects ahead of the soccer World Cup.
Next year’s fiscal plans foresee a surplus of 500 million Qatari riyals ($136.4 million), down from 4.4 billion riyals in 2019, according to a statement from the Ministry of Finance seen by Bloomberg News. The projection is based on average oil price of $55 per barrel, the same assumption the Gulf country used for this year’s budget.
- Spending on major projects, including those related to hosting the World Cup in 2022, will be little changed at 90 billion riyals, accounting for 43% of next year’s total.
- Such major outlays also include roads and sewage networks.
- Total projected expenditure seen at 210.5 billion riyals in 2020, the highest in the past five fiscal years.
- Salaries and wages will rise 3.3% to 59 billion riyals, as the country hires more workers to staff newly built metro stations, schools and health-care centers.
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