DOHA: Qatar’s investment income has surged by 14 percent or QR13.7bn to hit QR111.8bn during the 2014/15 fiscal. It’s contribution to the country’s total public revenues increased to 33.2 percent in the fiscal, compared to 28.6 percent increase reported in the previous fiscal.
By definition, investment income means income coming from payments, dividends, capital gains collected up on sale of a security or other assets, and any other profit that is made through an investment vehicle of any kind.
The contribution of various taxes and fees to Qatar’s public revenues rose by 23.8 percent, or by QR11.7bn, in 2014-2015 fiscal compared to the previous fiscal, Qatar Central Bank’s (QCB) annual report has revealed.
Public revenue components have seen marked variation during the year; where oil and gas revenues, which represent the main source of public revenue in Qatar, decreased, by about QR 31.6bn or 6.2 percent, to reach to about QR163.8bn. Its relative importance in the total revenues fell during the fiscal 2014/15 to about 48.7 percent compared to 57 percent in the previous fiscal.
Developments in public revenue components have led to a decline in total revenues of about QR6.2bn, or 1.8 percent, reaching to about QR336.6bn compared to QR 342.8bn recorded in 2013/14 fiscal.
Public expenditure grew considerably during the past years and contributed in accelerating economic development. However, the drop in oil prices has led to a reduction of public spending in 2014/15 fiscal with different rates.
The QCB annual report noted the development expenditures decreased to about QR62.6bn, or 29.4 percent of the total public expenditure for the fiscal year (2014/2015), compared to QR69.7bn, or 29.3 percent of total public expenditure for the previous year.
Salaries and wages were increased by about QR2.9bn, or 6.8 percent, to reach QR44.9bn, compared to about QR42bn in the previous fiscal year. Accordingly, its relative share rose in total public expenditure to about 21.1 percent, from 17.7 percent recorded in the previous fiscal.
