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FINANCIAL NEWS
Qatar to invest $100b in infrastructure projects
13 Jun 2010
(MENAFN) Qatari Finance Minister Yousuf Hussain Kamal said that the government has decided to invest about $100 billion in infrastructure projects until 2014, Gulf News reported.
The minister, who was addressing a Turkish-Arab economic conference in Istanbul, explained that the government?s main investment areas will be roads, sewage treatment, water treatment, and infrastructure like ports and airports.
He also stated that the Qatari government?s share of the investment will be $40 billion, whereas the remaining $60 billion will come from government subsidiaries such as Qatar Petroleum (QP).
The International Monetary Fund (IMF) estimated that Qatar?s gross domestic product (GDP) will grow by 18.5 percent this year, but also expected growth to fall to 14.3 percent in 2011. The IMF noted that Qatari economy is mainly reliable on oil and gas revenue.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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