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Qatar plans expenditure of $49bn in 2012-13

Qatar has announced it has set its budget with expenditures of QR178bn ($49bn) for the new fiscal year of 2012/13 and revenue of QR206bn, Reuters has reported. The Gulf country forecasts a surplus of QR28bn for the fiscal year, which started in April. The new budget is based on an oil price of $65 per barrel.