Budgeting is a huge problem for each state as it is necessary to make it balanced. Qatar is the country which depends on oil and gas development, however, the country cannot be called a poor one. Having considered three articles on Qatar budgeting, it is possible to check the dependence of the increase of the country’s budgeting opportunities with the increase of the price on oil and gas.
The articles under consideration dwell upon the budgeting options in the past and in the future. The main purpose of this report is to consider the information about budgeting in Qatar and describe the spheres which bring the highest revenues and those which require similar high costs.
The article “Qatar-Budget” in Mongabay.com states that oil and gas were the leading spheres in Qatar in 90’s. The whole budget was based on the income from these spheres. It should be noticed that about 90% of government revenue comprises this sphere. Nothing has changed from that period.
Having entered 2011, Qatar still makes stress on oil and gas manufacturing spheres. According to Kawach, Qatar’s GDP “has recorded the world’s highest growth over the past few years” (n.p.) has increased by 17.5 this year. Considering the state’s income from gas and oil operations and comparing the price to the population of the country, Qatar may become the wealthiest country in the whole world.
The budget opportunities of Qatar are increasing each year. Looking at the tendency of the country’s economy development, it may be predicted that the GDP growth in 2011-2012 may comprise about 23% and will comprise $166.2 billion in comparison to $129.8 billion in 2010.
Considering the article by Pratap John, it becomes obvious that Qatar’s government cares for its citizens as the increased revenue is financed in education and healthcare. Looking at the Qatar’s budget for 2010-2011, it can be noticed that much attention is paid to these spheres. Placing them as the priorities, the country confirms its devotion to the population and the desire to make the country prosperous and the wealthiest in the world.
Developing the infrastructure, the country increases the level of live of the population and makes their life easier. 15% of the budget for 2010-2011 (it is about QR17.3bn) is spent on development of education, 7% of the budget (or QR8.6bn) is spent on health care and about QR2.5bn is spent on “housing loans fund” (n.p.). Looking at the budget of the state, it seems that the requirements are too high, however, the country is able to serve itself.
Being a top country in oil and gas manufacturing, Qatar can impact the prices on the resources. Moreover, most of the countries have already recovered from the crisis and Qatar is unable to continue oil and gas delivery of the pre-crisis volumes. Qatar has already wakened from the crisis and has reached the activities in economy development similar to those which it had before the crisis beginning.
In conclusion, it should be stated that the budget of Qatar is the perfectly organized document which has the purpose to improve the life of the country by means of referring to the revenue from the leading industries which prosper in the country, oil and gas manufacturing. The income from these spheres in so high that the state is planning to become the wealthiest county in the whole world.
Works Cited
John, Pratap. “Budget to boost spending by 25%.” Gulf Times. 31 Mar. 2010. Web.
Kawach, Nadim. “Qatar’s budget surplus to widen in 2011.” Emirates 24/7 Business. 24 Nov. 2011. Web.
“Qatar-Budget.” Mongabay.com. 2008. Web.