Qatar to spend over $125 billion in 2011-2016

Qatar plans to spend over $125 billion in the next five years on construction and hydrocarbon-related projects, the Opec member's new national development strategy showed on Monday. The economy of the world's top liquefied natural gas exporter should expand by 15.7 percent this year before slowing down to 7.1 percent in 2012, according to a baseline scenario in the document, which outlines Qatari plans for 2011-2016.
Qatar's central bank governor said last week the Gulf Arab country's economy should grow by 18 percent this year, one of the fastest rates in the world. Cash-rich Qatar plans to invest over 130 billion riyals ($35.7 billion) in 2011-2016 through its state-linked companies, including about 100 billion riyals by Barwa and Qatar Diar for residential and business construction projects. Qatar Petroleum and its units should spend a further 88 billion riyals, while state infrastructure spending will amount to over $67 billion.