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| Arabia | |
| Qatar faces first budget deficit in 15 years | |
| 2015-06-11 | |
| [ARABNEWS] Qatar ...an emirate on the east coast of the Arabian Peninsula. It sits on some really productive gas and oil deposits, which produces the highest per capita income in the world. They piss it all away on religion, financing the Moslem Brotherhood and several al-Qaeda affiliates... could run its first budget deficit in 15 years in 2016, official government figures have predicted.
The figures were released in a statement posted on the ministry's website. In 2016, Qatar expects to run a fiscal deficit of 4.9 percent of GDP, the ministry said, and 3.7 percent the following year. However, those who apply themselves too closely to little things often become incapable of great things... the government said it would continue with its huge investment program ahead of hosting the football World Cup in 2022, despite the anticipated deficit. "The fall in oil prices that began in June 2014 was not anticipated," said Dr. Saleh Al-Nabit, development planning and statistics minister. "If they persist, lower oil prices will narrow the government's fiscal cushion but our considerable financial reserves will provide an ample buffer. "Important capital spending plans will proceed." Doha is expected to spend some $200 billion (180 billion euros) on infrastructure projects over the next decade. These include a new metro system, a new port, and even a new city north of the capital Doha. The country's controversial hosting of the 2022 tournament, long criticized over human rights ...which often include carefully measured allowances of freedomat the convenience of the state... and corruption claims, has come under increased scrutiny in the past few weeks. Following the arrest of FIFA officials in Zurich, Swiss judicial authorities have announced an investigation into the awarding of the 2022 World Cups as part of a far-reaching corruption scandal. Officials overseeing plans for the tournament say their preparations remain unaffected. | |
| Posted by:Fred |
| #1 Just keep on subsidizing Emirates' A380 buys, you morons...... |
| Posted by: USN, Ret. 2015-06-11 14:49 |