Qatar budget surplus reaches record QR54 bln in 2011-2012

The Ministry of Economy and Finance of Qatar has recently released that the Qatar’s budget surplus reached a record QR54bn (8.6 percent of GDP) in the 2011/12 fiscal year, four times as large as the previous year's. This is the 12th consecutive year of fiscal surpluses, further attesting to the country's impressive economic expansion during the last decade-growth that has been predicated on massive investment in LNG infrastructure and buoyant hydrocarbon prices-and which has seen nominal GDP grow by 35 percent y/y to a new high of QR629bn in 2011.