Qatar to spend $200bn despite oil price drop

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Sheikh Abdullah bin Nasser bin Khalifa Al-Thani

Sheikh Abdullah bin Nasser bin Khalifa Al-Thani

Qatar will stick to its $200-billion (190 billion-euro) infrastructure spending splurge, the energy-rich Gulf state’s premier vowed on Sunday, despite the fall in global oil prices.

Sheikh Abdullah bin Nasser bin Khalifa Al-Thani told business leaders at a Doha finance conference that the kingdom would maintain its plans to spend heavily on development projects in the runup to the football World Cup in 2022.

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

Qatar is spending on approved major projects such as developing the country’s railway network and building a new port.

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Source:: PM Newspaper