Infrastructure
Qatar to Run Surplus, Keeps Brakes on Spending Before FIFA World Cup 2022

(Bloomberg) –Qatar will run a budget surplus for a second straight year in 2020 as infrastructure spending stagnates while it wraps up projects ahead of the FIFA World Cup 2022.
Next year’s fiscal plans foresee a surplus of 500 million Qatari riyals ($136.4 million), down from 4.4 billion riyals in 2019, according to a statement from the Ministry of Finance seen by Bloomberg News. The projection is based on average oil price of $55 per barrel, the same assumption the Gulf country used for this year’s budget.
- Spending on major projects, including those related to hosting the World Cup in 2022, will be little changed at 90 billion riyals, accounting for 43% of next year’s total.
- Such major outlays also include roads and sewage networks.
- Total projected expenditure seen at 210.5 billion riyals in 2020, the highest in the past five fiscal years.
- Salaries and wages will rise 3.3% to 59 billion riyals, as the country hires more workers to staff newly built metro stations, schools and health-care centers.
- Read- FIFA World Cup 2022: Volkswagen to bring self-driving electric shuttles in Qatar
Builders have raced ahead at a breakneck pace since 2010, when the small peninsular nation unexpectedly won the rights to host the world’s most watched sporting event.
Propelled by $200 billion of infrastructure works, it seized the chance to upgrade its infrastructure by building roads, metro lines and thousands of hotel rooms.
But such spending is now stagnating as the soccer tournament approaches. The country allocated 92.9 billion riyals on major projects in 2018 and 89.5 billion riyals in 2019.
-
Economy2 months ago
Here’s Everything You Need to Know About Oman’s State General Budget for 2025
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, December 24
-
Automotive2 weeks ago
[REVIEW] A Legend Reinvented: The Nissan Patrol Y63 Blends Heritage with Modern Mastery
-
Banking & Finance2 months ago
His Majesty the Sultan Appoints Ahmed Al Musalmi as Governor of the Central Bank of Oman
-
OER Magazines3 weeks ago
OER, January 2025
-
Alamaliktistaad Magazines4 weeks ago
Al-iktisaad, January 2025
-
Banking & Finance4 weeks ago
Ishraq Waqf Investment Fund Announces Extension of IPO Subscription Deadline
-
Banking & Finance1 month ago
Bank Muscat’s 2024 Net Profit Grows To RO225.58Mn