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Satyendra Pathak
Doha
The Amir HH Sheikh Tamim bin Hamad al Thani on Monday issued Law No 26 of 2019 approving the state’s general budget for the year 2020. The law is effective as of January 1, 2020 and shall be published in the Official Gazette.
Qatar on Monday unveiled a surplus budget of QR500 million for 2020. The budgeted expenditure for 2020 is the highest in the past five fiscal years. The expenditure is estimated at QR210.5 billion, up by 1.9 percent compared to QR206.6 billion in 2019.
The total revenue in 2020 is expected to stay unchanged at QR211 billion, based on an oil price assumption of $55 per barrel. As a result, Qatar expects a surplus of QR0.5 billion in 2020 budget as compared to a surplus of QR4.4 billion in 2019.
In a statement on Monday, Ministry of Finance said the highest budgeted expenditure in the past five fiscal years reflects the country’s commitment to the completion of multiple development projects across multiple sectors, including those related to National Development Strategy 2018-2022.
“The 2020 budget is designed to achieve efficiency in the current expenditure while maintaining the allocations required for the completion of major approved projects,” the ministry said.
For next year, Qatar plans to spend QR90 billion on major projects, a 0.6 percent increase from QR89.5 billion in 2019 with infrastructure accounting for the largest part of project spending.
Major Projects, which constitute almost 43 percent of the total expenditure, represent the largest share of the overall budget.
“It highlights the country’s commitment to complete the projects on time in leading sectors, including healthcare, education, and transportation, along with those related to hosting of the FIFA World Cup in 2022 as per the approved schedule,” it added.
The country also plans to award new projects worth QR11.5 billion next year.
The Public Works Authority (Ashghal) will be responsible for the majority of those infrastructure projects such as local roads, sewerage networks, landscaping, rainwater drainage, and other utility and maintenance services amounting to QR8.5 billion in total.
The healthcare sector has been allocated QR22.6 billion, representing around 11 percent of the total expenditure in 2020. Major projects to improve healthcare services include expansion in Hamad Medical Corporation facilities and the establishment of several new healthcare centers.
Education sector has been allocated QR22.1 billion in 2020 budget, representing 10.5 percent of the total expenditure. The 2020 budget also includes allocations for the development of 13 new housing areas for nationals providing different facilities such as water, electricity and sewerage networks, and roads.Amir approves 2020 general budget
Doha
The Amir HH Sheikh Tamim bin Hamad al Thani on Monday issued Law No 26 of 2019 approving the state’s general budget for the year 2020. The law is effective as of January 1, 2020 and shall be published in the Official Gazette.
Qatar on Monday unveiled a surplus budget of QR500 million for 2020. The budgeted expenditure for 2020 is the highest in the past five fiscal years. The expenditure is estimated at QR210.5 billion, up by 1.9 percent compared to QR206.6 billion in 2019.
The total revenue in 2020 is expected to stay unchanged at QR211 billion, based on an oil price assumption of $55 per barrel. As a result, Qatar expects a surplus of QR0.5 billion in 2020 budget as compared to a surplus of QR4.4 billion in 2019.
In a statement on Monday, Ministry of Finance said the highest budgeted expenditure in the past five fiscal years reflects the country’s commitment to the completion of multiple development projects across multiple sectors, including those related to National Development Strategy 2018-2022.
“The 2020 budget is designed to achieve efficiency in the current expenditure while maintaining the allocations required for the completion of major approved projects,” the ministry said.
For next year, Qatar plans to spend QR90 billion on major projects, a 0.6 percent increase from QR89.5 billion in 2019 with infrastructure accounting for the largest part of project spending.
Major Projects, which constitute almost 43 percent of the total expenditure, represent the largest share of the overall budget.
“It highlights the country’s commitment to complete the projects on time in leading sectors, including healthcare, education, and transportation, along with those related to hosting of the FIFA World Cup in 2022 as per the approved schedule,” it added.
The country also plans to award new projects worth QR11.5 billion next year.
The Public Works Authority (Ashghal) will be responsible for the majority of those infrastructure projects such as local roads, sewerage networks, landscaping, rainwater drainage, and other utility and maintenance services amounting to QR8.5 billion in total.
The healthcare sector has been allocated QR22.6 billion, representing around 11 percent of the total expenditure in 2020. Major projects to improve healthcare services include expansion in Hamad Medical Corporation facilities and the establishment of several new healthcare centers.
Education sector has been allocated QR22.1 billion in 2020 budget, representing 10.5 percent of the total expenditure. The 2020 budget also includes allocations for the development of 13 new housing areas for nationals providing different facilities such as water, electricity and sewerage networks, and roads.Amir approves 2020 general budget
