Qatar will invest up to $13 billion in major infrastructure projects next year despite a slump in revenues resulting from low energy prices, the Gulf state's finance minister said yesterday. 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," Emadi 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)."
The minister added that the 2022 World Cup host had already spent almost 375 billion riyals 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.
Keep up to date with what’s happening in Turkey,
it’s region and the world.
You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
