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Oil price no deterrent for Qatar's $200bn splurge

Qatar’s Premier vowed that despite the fall in global oil prices the country will stick to its $200-billion infrastructure spending spree

Qatar will continue to invest in infrastructure despite oil price.
Qatar will continue to invest in infrastructure despite oil price.

Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, Qatar's PM told business leaders at a Doha finance conference that the country would maintain its plans to spend heavily on development projects in the run-up to the football World Cup in 2022.

"We reiterate our commitment to investment infrastructure, health and education," he said.

Qatar's finance minister, Ali Shareef al-Emadi emphasised that despite fears over the global economy the country would keep up heavy spending on infrastructure.

Qatar announced that its population had jumped in February to a record 2.33 million, on the back of an influx of foreign workers moving to the country to work on the infra projects, The Peninsula reported.

Sheikh Abdullah, who is also interior minister, predicted Qatar's economy would grow by7% in 2015, suggesting the population increase was likely to continue.
 

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Construction Week - Issue 753
Nov 09, 2019