Qatar is set to pump in about QR 46 billion ($13 billion) on mega infrastructure projects in the country in 2017 with a major focus on projects related to the Fifa World Cup 2022, said a report.
The move comes as part of its strategy to achieve sustainable development and economic diversification and reach its target of 3.4 per cent growth next year, reported Gulf Times, citing its finance minister.
These new investments will also cover other sectors like education, healthcare and transportation, Ali Sherif Al Emadi was quoted as saying in the report.
He was speaking at the Euromoney conference, which concluded yesterday (December 7) in Doha.
“Qatar is forecast to reach an annual growth rate of 3.4 per cent in 2017, which is the highest forecast growth in the GCC region,” the finance minister stated.
The World Cup event is seen as a main driver behind the country’s growth and the reason it did not suffer as severe a slowdown as some of its GCC neighbours, such as Saudi Arabia, which registered a record budget deficit of nearly $100 billion in 2015.
Al Emadi also pointed out the country’s non-oil sector grew by 5.8 per cent this year, the report added.