Qatar is making fast progress in preparation of hosting the 2022 World Cup, the Qatari Finance Minister, Ali Sherif Al-Emadi, announced yesterday.
Speaking to Reuters, Al-Emadi said that 90 per cent of the event’s infrastructure work “would be completed by 2019”.
Qatar’s economy, the minister added, is set to grow by 2.6 per cent this year and closer to over three per cent in 2019.
“We are still doing very well and will make sure economic growth outpaces that of the region,” he noted. He also predicted the country’s private sector to grow by four per cent in the current year.
Economists say that Qatar’s economy has notably recovered from a boycott imposed by some Arab states last year and is becoming one of the region’s fastest-growing.
On 5 June 2017, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Doha, accusing it of “supporting and financing terrorism.” Qatar denies the allegations.
Although the blockade has disrupted the Gulf state’s imports and triggered withdrawals of billions of dollars of deposits from Qatari banks, it developed new trade routes, deposited state money in its banks and helped local firms to develop output of some key goods instead of importing them.