Qatar Focuses on Infrastructure Projects for Qatar 2022 World Cup bid: Finance Minister Says

Doha , November 24 (QNA) - HE the Minister of Finance Ali Shareef Al Emadi affirmed that Qatar is focusing in the current phase on development of education, health, transportation and infrastructure sectors in addition to implementing infrastructure projects related to preparations of the 2022 World Cup bid, while stressing that cannot cancel any of them . Speaking at the opening session of the Euromoney Qatar conference, which kicked off today, Al Emadi said that the conference in its third edition coincides with growing concern about slowing economic growth in several regions around the world, adding that markets of energy , commodities and metals are witnessing strong correction led to a drop in oil prices by 30 percent with a continuously declining expectations to their lowest levels for long- periods , which would have implications on gas and oil exporting countries. This matter, HE the Minister added, requires a thorough and in-depth discussions for drawing a vision about the global economy's future , including ways to take advantage of the available opportunities and to cope with potential risks ,he said. Finance Minister noted that the conference also coincides with important developments in Qatar, where Qatar continues work to implement strategies, programs and projects set by the Qatar National Vision 2030 in accordance with the timetable set out to achieve its goals in promoting the sustainable development march. HE the Minister of Finance said that achievement of the financial stability is one of the most important objectives of the Qatar National Vision, which requires application of effective fiscal policies due to the requirements of the current phase experiencing momentum in the implementation of major projects. His Excellency added that the fiscal policy of the State of Qatar is focusing on the implementation of these projects within the priorities with achieving balance between costs and achievements and set a timetable to avoid pressure on services, facilities and logistics operations to ensure the control of inflation. HE the Minister of Finance said that the Ministry is now looking to apply new financial systems in the state, noting that the Ministry of Finance have been carrying out a number of projects in that regard. His Excellency added that the Qatari is witnessing an important phase where the production of oil and LNG will stabilize while non-oil sector will begin to make a bigger contribution to economic growth. HE the Minister added that this phase will require providing more support to the private sector. His Excellency highlighted that the state took some important decisions in that regard, particularly preventing competition between the private sector and government institution in executing projects. HE the Minister stressed the importance of new legislations to supplement the need to back the private sector. (END)