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FINANCIAL NEWS
Qatar continues on spending USD 22bn of new contracts
08 Feb 2016
(MENAFN) Qatar is ready to award more than USD 22bn of new contracts this year as it keeps its spending spree in advance of the FIFA 2022 World Cup.
Furthermore, the forecast of USD 22bn worth of contracts will be given in the state this year is some 24 percent lower than the USD 29.3bn worth of deals in 2015.
However, this year is almost in line with Qatar’s USD 22.3bn contract award rate experienced over the past five years.
“Like all GCC states, Qatar’s is set to spend less this year as government revenues are impacted by lower oil prices,” said Director of Content & Analysis at local projects.
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