FINANCIAL NEWS

Qatar to spend $100b on infrastructure projects

13 Jun 2010

(MENAFN) Qatari Finance Minister Yousuf Hussain Kamal said that the government and state-owned companies plan to spend as much as $100 billion on infrastructure projects within the next four years, Reuters reported

He said at a Turkish-Arab economic conference in Istanbul that the main projects are roads, sewage treatment, water treatment, and infrastructure like ports and airports.

The Qatari economy, which depends on oil and gas revenue, may expand 18.5 percent in 2010, according to the International Monetary Fund (IMF). Growth may slow to 14.3 percent next year, the IMF said.

The government will spend more than $40 billion on projects, while the remaining amount will come from government subsidiaries such as Qatar Petroleum, Kamal said.

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