Financial and Banking News
BUDGETS AND REVENUES
Qatar Trims Spending and Budget Deficit
The State of Qatar last week announced details of its budget for the fiscalyear beginning 1 April, which reduces expenditure and the budget deficit by some8% compared with the budget for the previous year. The Amiri decree which waspromulgated last week also changed the country's financial year from a lunaryear to a Gregorian basis, and all future budgets will begin on 1 April.