14 December 2016
While the low oil price has been the catalyst for most Gulf Arab states to tighten their belts and curb their spending and investments, Qatar is taking a different approach. The Doha government has promised to raise salaries for public sector employees next year and is planning major infrastructure investments at home and abroad. Read more here.
On Tuesday, the head of Qatar's sovereign wealth fund announced plans to invest $10 billion in infrastructure projects in the United States, giving a boost to Donald Trump’s $500 billion economic reform plans. Read more here.
And the deals look set to continue as the Doha-based Gulf Times newspaper reported that Qatar's Minister of Finance, Ali Sherif Al Emadi, told American officials in a recent meeting that the Gulf state intends to continue its “ambitious programme” of targeting development across multiple sectors. Read more here.
This weekend, the Qatar Investment Authority and commodities trader Glencore also signed a deal with the Russian state holding company Rosneftegaz to buy a 19.5 percent stake in state-owned oil major Rosneft. Read more here.
The Gulf Arab state has also announced plans to abolish an unpopular Kafala (sponsorship) system and push through new labour reforms, as part of its bid to position itself as a better place to work for foreign workers. Read more here.
Over the next few years the Qatari government plans to spend $200 billion on infrastructure projects ahead of its hosting of the FIFA World Cup in 2022. World Cup-related projects were the biggest driver of the state’s economic growth, which is estimated to be around 3 percent by the end of this year and forecast to be 3.1 percent in 2017. Read more here.
The country's non-oil sector also grew by 7.8 percent in 2015, one year after the start of the sharp drop in oil prices, according to new data released on Tuesday. Read more here.
For more on Qatar’s economic performance click below:
Qatar economic growth poised for a rebound in H2
Robust growth: Qatar's private sector credit jumps by 19.7%
© Express 2016
While the low oil price has been the catalyst for most Gulf Arab states to tighten their belts and curb their spending and investments, Qatar is taking a different approach. The Doha government has promised to raise salaries for public sector employees next year and is planning major infrastructure investments at home and abroad. Read more here.
On Tuesday, the head of Qatar's sovereign wealth fund announced plans to invest $10 billion in infrastructure projects in the United States, giving a boost to Donald Trump’s $500 billion economic reform plans. Read more here.
And the deals look set to continue as the Doha-based Gulf Times newspaper reported that Qatar's Minister of Finance, Ali Sherif Al Emadi, told American officials in a recent meeting that the Gulf state intends to continue its “ambitious programme” of targeting development across multiple sectors. Read more here.
This weekend, the Qatar Investment Authority and commodities trader Glencore also signed a deal with the Russian state holding company Rosneftegaz to buy a 19.5 percent stake in state-owned oil major Rosneft. Read more here.
The Gulf Arab state has also announced plans to abolish an unpopular Kafala (sponsorship) system and push through new labour reforms, as part of its bid to position itself as a better place to work for foreign workers. Read more here.
Over the next few years the Qatari government plans to spend $200 billion on infrastructure projects ahead of its hosting of the FIFA World Cup in 2022. World Cup-related projects were the biggest driver of the state’s economic growth, which is estimated to be around 3 percent by the end of this year and forecast to be 3.1 percent in 2017. Read more here.
The country's non-oil sector also grew by 7.8 percent in 2015, one year after the start of the sharp drop in oil prices, according to new data released on Tuesday. Read more here.
For more on Qatar’s economic performance click below:
Qatar economic growth poised for a rebound in H2
Robust growth: Qatar's private sector credit jumps by 19.7%
© Express 2016
