Qatar to spend $50bn on infrastructure projects
Unspecified proportion to be allocated to energy projects
Qatar’s central bank governor has revealed the government is expected to sign contracts for construction projects worth as much as $50 billion this year.
According to the official news agency QNA, Sheikh Abdullah bin Saud Al Thani said the projects will be in transport, energy and other sectors as Qatar builds the infrastructure needed to host the World Cup in 2022.
Although exact details of the contracts were not given by Sheikh Abdullah, it is understood spending on infrastructure is to be ramped up this year.
In the fiscal year that ended last March, actual government spending rose only 2.2%, undershooting the budget plan for the first time since 1990. But a planning ministry report at the end of last year said state spending would climb 11.6% in 2014.