Qatar’s first three-year budget
With a budget surplus last year, Qatar is set to announce its budget for 2014, 2015 and 2016. Incorporating a period of three years for the first time, Qatar’s upcoming budget will aim to provide investors with long-term overviews.
The country’s 142 government ministries and organisations were scheduled to submit their proposals in March based on a budget guideline issued by the Ministry of Economy and Finance, making the release date likely to be sometime in April. The cabinet, however, has indicated the document’s finalisation may take another two months, pushing the announcement to the end of June. The upcoming three-year budget, to be ratified every year, will focus on seven key sectors of infrastructure, science and technology, improving the service sector, economic diversification, education, health and the environment to support sustainable development. For the next financial year starting from April 1, science and technology development will remain the key priority along with the allocation of public spending on health, education and the environment.
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