Qatar approves largest ever budget
The Qatari cabinet has endorsed the country’s largest ever state budget, which includes higher outlay for infrastructure upgrade and enhanced allocation for health, education and transport sectors, Gulf Times has reported. Estimating QR225.7bn in total revenue and QR218.4bn in expenditure, the budget for fiscal 2014/15, which projects a surplus of QR7.3bn, has been based on a conservative oil price assumption of $65 a barrel that remains unchanged from the previous year. The increase in financial year 2014/2015 expenditures has been made for the completion and implementation of key development projects (that have been allocated QR87.5bn, up 16.8% on the previous budget). Projects valued at an estimated QR664bn are “anticipated to be implemented” during the next five years. This excludes oil and gas projects or private sector projects.