Qatar spending $500m a week on world cup projects
This level of spending is expected to continue up to 2021 with mega-projects under construction across the country, said Ali Sherif Al Emadi, Minister of Finance
Qatar is currently spending $500m a week on capital projects in preparation for its World Cup games in 2022, its Minister of Finance said on Tuesday.
This level of spending is expected to continue up to 2021 with mega-projects under construction across the country, said Ali Sherif Al Emadi during a government-invited press trip, AFP reported.
He said: "We are spending close to $500m per week on capital projects and this will carry on for the next three to four years to achieve our goal and objective of really getting the country ready for 2022.”
More than $200bn will be spent in total in preparation for 2022, a figure that covers stadiums and major projects such as roads, a new airport and hospitals.
He added: "We are really giving ourselves a good chance of delivering things on time and we don't want to get in a place that we start painting while people are coming to the country."
When asked if this would make Qatar’s tournament the most expensive World Cup ever he reiterated that the $200bn will be put on infrastructure for the country and that “If you look at stand alone, the World Cup, no it is not”.
Qatar ran an estimated budget deficit of more than $12bn last year. This year, the state budget was approved with a deficit of $7.7bn for 2017.