DOHA: Government spending has increased almost 33 percent to QR93.2bn in the first half of the current fiscal.
Expenditure during April-September was equal to more than 44 percent which is more than the planned one.
Preliminary figures issued by the Ministry of Finance show the rate of increase, compared with the same period a year ago, was the fastest since at least 2008, Al Sharq reported citing Reuters data.
Budget surplus reached QR25.2bn in the first half of 2013-14.
Analysts polled by Reuters in January were of the view that Qatar will have a budget surplus of nine percent of GDP in 2013-2014 which will shrink to 5.9 percent in the next financial year.
International Monetary Fund warned this month that increased government spending could lead to a deficit in the medium term if coupled with the stability of the production of liquefied natural gas and crude oil production decline in old fields and low oil and gas prices.
Reuters quoted sources as saying that Qatar is likely to reschedule about 15 percent of its planned building projects for coming years and go over budget amid a push to complete preparations for the 2022 World Cup.
The government has not released a comprehensive, detailed schedule of its construction plans, but analysts estimate they will cost between $140bn and $200bn through the early 2020s, paid for with the country’s vast natural gas wealth.
This is expected to provide a bonanza to foreign construction firms that will do much of the work. The Peninsula
