05 July 2011
DOHA: The budget surplus for the first half of the current fiscal (2011-12) is estimated at an astronomical QR50bn due to oil prices in the global markets ruling at much higher levels than that at which the budgetary estimates were based ($55 per barrel), reports Al Sharq quoting unnamed sources.
DOHA: The budget surplus for the first half of the current fiscal (2011-12) is estimated at an astronomical QR50bn due to oil prices in the global markets ruling at much higher levels than that at which the budgetary estimates were based ($55 per barrel), reports Al Sharq quoting unnamed sources.
Oil prices have been rising over the past few months, settling at an average $107 per barrel recently, the daily said.
It also quoted sources as saying that the economic growth in 2011 was expected to be a high of 20 percent irrespective of whether the non-oil sector performs well or not.
© The Peninsula 2011
