| Kippreport.com

Qatar plans to spend $49 billion in 2012/13 – QNA

May 29, 2012 6:01 by Reuters

Qatar set its budget with expenditures of 178 billion riyals ($49 billion) for the new fiscal year of 2012/13 and revenue of 206 billion riyals, the state news agency QNA reported.

The world’s top liquefied natural gas (LNG) exporter projects a surplus of 28 billion riyals for the fiscal year, which started in April. The new budget is based on an oil price of $65 per barrel.

The Gulf Arab country planned to spend 140 billion riyals in the previous fiscal year of 2011/12, expecting a surplus of 23 billion based on an assumed oil price of $55 per barrel.

Tags: LNG, multibillion investment, oil price, Qatar budget, QNA