Qatar’s budget for fiscal, 2014/15, the country’s largest-ever, will give further push to infrastructure upgrade and ensure meaningful investment in health, education and transport sectors in line with Doha’s desire to achieve sustainable development in all spheres.The budget, which estimates total revenue of QR225.7bn and expenditure of QR218.4bn, projects a surplus of QR7.3bn. But the fiscal-end surplus could be higher given the fact the budget has been based on a conservative oil price assumption of $65 a barrel.The expansionary fiscal policy is expected to support healthy growth in the non-energy sector, realising the country’s planned diversification of economy, away from oil and gas.It will further accelerate the pace of economic growth and create more opportunities for business and investments in all sectors of the economy.Budget details indicate education, health, infrastructure and transportation sectors have accounted for 54% of the total expenditure in the budget for 2014/15. This represents a 6% increase compared with the budget for fiscal 2013/2014. Funds allocated to the education sector reach QR26.3bn, a 7.3% increase compared to the previous budget.The country’s health sector had been budgeted QR15.7bn in the new financial year, up 12.5% on the previous fiscal.The increase in financial year 2014/2015 expenditures has been made for the completion and implementation of key development projects (that have been allocated QR87.5bn, up 16.8% on the previous budget).In view of Qatar’s commitment to improve its infrastructure to a world-scale, which shows a 22% increase compared with the previous financial year.This, according to HE the Minister of Finance Ali Sharif al-Emadi, will enable the completion of the major infrastructure expansion programme and development projects and to start building the Qatar 2022 FIFA World Cup stadiums. Work on seven (out of the eight) stadiums will gear up this year. Since the transportation sector is a key part of the infrastructure required to enhance sustainable development, budget allocations have been made for the completion of the Hamad International Airport, the New Doha Port as well as for the rail, metro and various road projects. In addition, electricity, water and sewerage networks will be expanded to keep up with the growth in urban areas in the country.The higher outlay for infrastructure, sport and transport sectors besides education and health provides great opportunities for the country’s private sector. To make meaningful gains, the private sector, however, needs to hone its skills and build capacity and create essential partnerships, wherever needed. But the large aggregate expenditure increases could trigger a rise in consumer and commercial prices and run the risk of a spike in inflation. As Minister al-Emadi emphasised Qatar’s expansionary fiscal policy and public expenditures require an effective management to control any potential inflationary pressures.“The Ministry of Finance works in co-ordination with Qatar Central Bank on taking effective measures necessary for combating any potential inflationary pressures that will help in controlling inflation at acceptable levels,” al-Emadi said.In the past, Qatar has done well in tackling inflation and it is again expected to successfully manage the liquidity situation and dampen acute price pressures, if any.