Macroeconomic Forecast Qatar

In spite of a sharp increase in government spending, we continue to expect Qatar's budget position to remain healthy over the coming years. We are pencilling in a 36.3% y-o-y rise in government revenues through FY2011/12 - primarily the product of soaring hydrocarbon income - and expect the budget to remain in the black to the tune of 8.4% of GDP, compared with 3.3% of GDP in FY2010/11. Large surpluses will facilitate a continuation of the government's highly expansionary fiscal policy in the years ahead.

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