QR5.7bn Outlay for Education

The Qatari government's fiscal 2006-2007 budget, the largest ever due to rising energy prices and production, foresees spending on education of 5.7 billion Qatari riyals (QR), according to the Finance Ministry.

Qatar's fiscal year runs from April 1 through March 31. The general outline of the 2006-2007 budget was released by Finance Minister Hussein Kamal through a statement on Qatar News Agency.

According to the figures, total revenue for 2006-2007 is expected to grow to QR 56.9 billion, based on an estimated oil price of $36 per barrel, from QR 38 billion during the previous fiscal year. Public expenditures are seen at QR 54.6 billion from QR 37.8 billion last year, producing an overall budget surplus of QR 2.3 billion. For the 2005-2006 fiscal year, the budget surplus was estimated at QR 217 million.

The government will earmark a good portion of the revenue for long-term development projects related to education, health and housing, and for infrastructure ventures such as roads, sewage, electricity, water, industrial areas and air and sea ports. Spending on education alone is expected to reach QR 5.7 billion, of which QR 523 million will go toward special projects rather than the operating expenses of the public education system.

Qatar's gross national product has ballooned to QR 127 billion in 2005 from QR 30 billion 10 years earlier.