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FINANCIAL NEWS
Qatar to spend USD70b on infrastructure projects
30 Nov 2014
(MENAFN) According to Deloitte, Qatari government is planning to spend about over USD70 billion on infrastructure and transport as well as hotels and stadiums as it prepares to host the FIFA World Cup in 2022, The Peninsula Qatar reported.
The country’s Ministry of Finance said it has allocated USD24 billion for key projects, which represent an increase by 16 percent in comparison with the allocated sum last year as well as being Qatar’s largest infrastructure budget to date.
Deloitte said that it expects that this boom in spending on infrastructure projects will keep its momentum, particularly after Qatar was granted the right to host the 17th IAAF World Championships, which will happen in 2019, thus boosting the construction sector even further.
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