Qatar set state spending for the 2010-2011 fiscal year at 117.9 billion riyals ($32.4 billion), Bloomberg reported yesterday. A 9.7 billion riyal budget surplus was also projected. Revenue is forecast to rise 44% to 127.9 billion, and expenditure was increased 25%. State-run Qatar News Agency reported the surplus, and said Qatar had a budget deficit of 5.8 billion riyals in the previous fiscal year.
George Ayache, GM of IFP Qatar, suggested a positive economic turn for Qatar in a recent interview with Real magazine, out this April. Of planning Project Qatar 2010, Mr. Ayache said, "The growth we witnessed at this exhibition was phenomenal." He continued, "My assessment is simply that companies from around the world are looking for alternative markets, and surely Qatar is one of them, particularly in the construction industry."
George Ayache is guest editor of Real magazine's April issue, on stands April 8.
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