Doha – Mubasher: Qatar’s budget deficit is expected to decline by 38.9% to QAR 28.4 billion in 2017 from QAR 46.5 billion in 2016, due to an increase in government revenues and continued rationalisation of current expenditure, a recent report by Qatar National Bank (QNB) said.
The capital spending, however, is forecasted to rise in 2017.
Revenues are expected to increase by 9% in 2017 compared to 2016’s budget; QNB said that the revenue projection is based on an oil price assumption of $45 a barrel.
Current expenditure, which includes salaries and wages, will decline by 6.6% in 2017, with its share is expected to fall from 53.3% of total spending in 2016 to 50.8% in 2017.
Capital spending is planned to rise by 3.2% with its share of total spending increasing to 49.1% in 2017 from 46.7% in 2016.
Capital project spending will be targeted at transportation and infrastructure (21.2% of total spending), health (12.3%) and education (10.4%), the report stated.
