Qatar announces bigger budget for 2012/13

Qatar’s government has announced that its budget for the new fiscal year will be bigger than the previous one and inflation should move between 2 and 3 percent this year, said Youssef Kamal, Finance and Economy Minister. Kamal told “It will be bigger” without giving details. In its 2011/12 budget, the world’s top liquefied natural gas exporter originally planned spending worth 139.9 billion riyals ($38.4 billion) and a surplus of 22.5 billion riyals, or 3.6 percent of the 2011 gross domestic product. Qatar’s 2012/13 fiscal year started in April. Kamal said the government would release its budget plan by the end of May.