Qatar is spending $500m a week to prepare for the 2022 World Cup
Qatar’s government is spending some $500 million a week on capital projects around the country, its Minister of Finance has said.
“That doesn’t mean the stadiums only, we are talking about highways, rail, ports, airports, those are really underway, even hospitals and everything,” the minister said to reporters who were on a press trip to Doha.
“We are really giving ourselves a good chance of delivering things on time and we don’t want to get in a place that we start painting while people are coming to the country.”
Despite the huge expenditures, Al Emadi confirmed that austerity measures around Qatar will continue.
Last year, lower oil prices caused the country to run its first budget deficit in more than a decade.
This year’s budget slightly cuts spending and projects a smaller deficit of $7.8 billion, compared to $12.8 billion in 2016.
Qatar’s Emir has also denounced extravagance and urged citizens to spend more “reasonably.”
Additionally, thousands of people have been laid off in the oil and gas industry and by other companies in the past two years.