Qatar state spending grew 12.7%

July 30, 2014 4:29 pm

According to figures released by the Qatari central bank, the country’s state spending grew 12.7% 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, Reuters has reported. Expenditure rose to a record high of QR231.7bn ($63.6bn) in the year that ended in March, from QR205.6bn in 2012/13. Current expenditure rose 6% to QR163.2bn in 2013/14, a sharp slowdown from a 24.4% jump in each of the previous two years, because of a drop in interest payments and spending on supplies and services, the data showed.