Qatar Projects $7.7b Deficit
Qatar Projects $7.7b Deficit

Qatar Projects $7.7b Deficit

Qatar Projects $7.7b Deficit

Qatar has projected a deficit of about $ 7.7 billion in its budget for 2018 for the third consecutive year because of falling energy prices, the country’s finance ministry said Wednesday, Alarabiya reported. The ministry said it expects spending in the budget to reach $55.4 billion, compared to $47.7 billion, slightly higher than previously estimated. The ministry has already forecast a deficit of $7.8 billion for this year’s budget. According to a statement released by the ministry, it had calculated oil income for next year at $45 a barrel, unchanged from 2017, despite the rise in crude oil prices. In 2016, after 15 years of surplus, Qatar suffered its first budget deficit of $12 billion. The spending on major projects is expected to reach $25 billion, roughly equivalent to spending in 2017. The rise in next year’s spending will mainly be due to the launch of new public facilities such as schools and hospitals, the ministry said, adding that the government would also focus on completing infrastructure for the 2022 soccer World Cup.

Short URL : https://goo.gl/hV75Qx
  1. https://goo.gl/h2rx38
  • https://goo.gl/zfKyEX
  • https://goo.gl/iXabjQ
  • https://goo.gl/2or2W8
  • https://goo.gl/moy7ym

You can also read ...

Shares in German and other European car manufacturers fell on Friday after Trump threatened  to impose a 20% tariff on cars imported from the bloc.
An industrial powerhouse built on massive exports and a...
Airbnb Exodus Spawns Business Boom in Japan
As Airbnb home-sharers in Japan quit the market in droves,...
Companies like Toyota need AI talent to develop self-driving technologies, but the competition is intense with an estimated shortfall of 700,000 engineers.
China and the US are scrambling to secure one of the world's...
Thai SMEs Can Cash In on China’s Vast Online Market
China offers great opportunities to Thai small and medium-...
Escalation of protectionist measures could trigger a fresh global economic downturn.
Policymakers can maintain the current economic upswing beyond...
South Africa Gov’t to Address Skills Shortage
The South African government will continue to prioritize maths...
The symposium emphasized the importance of capacity building and skills development as an integral component of the digital agenda.
The 2018 International Telecommunication Union’s Global ICT...
The People’s Bank of China
China’s central bank said on Sunday it would cut the amount of...

Add new comment

Read our comment policy before posting your viewpoints