Oil price to provide Qatar with $136.5 million windfall
Higher than previously forecast oil prices are expected to provide the Qatari government with a budget surplus worth 497 million riyals ($136.5 million) for the 2001/02 fiscal year, which begin April 1.
Projected revenues are 18.1 billion riyals and spending is forecast to stand at 17.56 billion riyals
And the surplus could be higher. According to Youssef Hussein Kamal, the country’s finance, economy and trade minister, the original projections for the budget were based on an average price per barrel for crude oil of $16.50. Current oil prices are more than 50 percent higher. – (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)