Photo for illustrative purposes only. Credit: nkhairil79/Flickr Qatar is “well-positioned” to manage the impact that lower oil prices have had on its revenue, the International Monetary Fund (IMF) has said.…
Qatar, like other countries in the region, has "maintained social cohesion" by redistributing some of the proceeds from its sale of oil and natural gas to residents through generous public services and artificially low prices for water, electricity and petrol.
The head of the International Monetary Fund told Gulf leaders this weekend that government subsidies on petrol, electricity and other goods must be cut to make up for a looming revenue shortfall from dropping oil prices.
In a bid to prevent construction bottlenecks and rising costs - and ensure that projects are delivered on time - the IMF has suggested Qatar set up a public investment management process for all its forthcoming construction projects.