Qatar to up spending to $57.8b on big infrastructure projects

Qatari Finance and Economy Minister Youssef Kamal expects the country’s budget spending will stay at the current level for the next four years and may drop after 2017.

He said Qatar plans to boost government spending by 18 per cent to $57.8 billion during the current fiscal year as the country steps up a big infrastructure building programme.

“The budget… until the year 2015 or 2017 will be the same level, but later on it could go down again because most of the infrastructure would be completed at that time,” Kamal told reporters on the sidelines of a meeting of Arab finance ministers and central bankers in Dubai.

Earlier, Qatar’s central bank said it planned to issue QR3 billion of conventional bonds and QR1 billion of Islamic bonds in the local currency every quarter.

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