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Qatar 2010 budget will help boost infrastructure development
The Qatar economy has sailed through the global financial crisis smoothly, with the measures taken by the government in Qatar, the Prime Minister acknowledged.
The forthcoming budget in Qatar will include a huge stimulus aimed to invigorate the national economy, and sufficient funds will be set aside for completion of existing projects and for new mega projects to be announced shortly, said Sheikh Hamad bin Jassim bin Jabor Al-Thani, the Prime Minister and Foreign Minister.
The Prime Minister revealed that experts are working on a budget, based on oil price of $50 - $55 per barrel. The huge sums would be approved and allocated towards infrastructure development and several new infrastructure development projects would be announced.
The private sector in Qatar has been assured of complete governmental support, as the economy is currently robust and is in its post-recession period.
However, Sheikh Hamad added that the private sector should continue to move ahead on its own strength, as it had been supported by the government until now, and this is an unhealthy trend.
The Prime Minister said that he hoped 2010 to be an excellent year for Qatar economy, while adding that the national economy being already strong, several local companies have declared good profits despite global recessions, and in some cases the dividends were more than 10 percent.
He also pointed out that the country is witnessing development of its vibrant gas, oil and petroleum sectors.
Speaking on Qatarization, the Prime Minister said that the state has zero unemployment rate and about 2700 nationals have already been employed last year.
Posted on 14/2/2010
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