Qatar will invest up to $13 billion in major infrastructure projects next year, the finance minister said on Tuesday.
Minister of Finance H E Ali Shareef Al Emadi predicted growth of 3.4 percent in 2017, in line with an International Monetary Fund estimate and up from a projected 3.2 percent this year.
"Increasing the investment in mega projects reiterates the country's commitment to achieving its goals," Minister told delegates at a Euromoney conference in Doha.
"It is expected that on new projects in 2017, spending will be up to 46 billion Qatari riyals ($13 billion, 12 billion euros)."
The minister added that the 2022 World Cup host had already spent almost 375 billion riyals ($98 billion dollars, 95.6 billion euros) on large-scale projects.
Most of the investment in the next few years will be in construction and transport as the country gears up to host football's showpiece tournament.
Speaking at the same conference, Qatar National Bank's chief executive officer, Ali Ahmed Al Kuwari, said construction would account for 45 percent of investment between 2015 and 2018, and transport almost 30 percent. (Source)
Follow us on our social media channels:
If you have anything you want to share with us, send us an e-mail at [email protected]!
Want to send a tip? Drop us an e-mail at [email protected], anonymity is guaranteed!
You have successfully registered your account!Please confirm your e-mail address by clicking on the URL sent to you.The e-mail usually arrives in 5-10 minutes.
How ajeeb was that!? Thanks for contributing to our community! Your post will appear after we take a quick look!