Qatar increases H1 spending by 33%

March 24, 2014 2:33 am

Official figures released by Qatar’s central bank indicate that government spending rose nearly 33% to QR93.2bn ($25.6bn) in the first six months of this fiscal year, speeding up after a slow start to soccer World Cup 2022 projects, Reuters has reported. Expenditure in April-September accounts for a little over 44% of the record QR210.6bn Qatar plans to spend in the 2013/14 fiscal year. The world’s top liquefied natural gas (LNG) exporter spent QR70.3bn in the same period of the previous 2012/13 fiscal year. Qatar’s fiscal year ends in March. Revenue fell 19% to QR118.5bn in the first half, the first decline in this period since the quarterly data series started in 2008. That was more than 54% of the QR218.1bn anticipated in the 2013/14 budget.