VOL. XLII

No. 14

5-April-1999

QATAR

Qatar Approves $10/B Based Austerity Budget

Qatar released a QR14.1bn ($3.87bn) 1999-2000 austeritybudget on 25 March containing significant reductions in both projected revenuesand expenditures (14.7% and 9.7% respectively see table below). With aconservative oil price assumption of $10/B ($3 less than the previous year),and in spite of measures to cut expenditures initiated in 1998, the new budgetprojects a 9% increase in the deficit to QR3.6bn ($989mn)....