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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

    Local, Italian companies partner up to establish food retail chain in Egypt

    Local, Italian companies partner up to establish food retail chain in Egypt

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      Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      New study reveals that UAE is most competitive economy in the Arab world

      New study reveals that UAE is most competitive economy in the Arab world

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      • CES 2017
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      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Iraq set to award new Faw Port deals

      Iraq set to award new Faw Port deals

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        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

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        • Hospitality

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Staycations to stimulate Qatar’s hospitality sector

          Staycations to stimulate Qatar’s hospitality sector

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        • Agrofood
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          • Agriculture
          • Environment
          • Food

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics

            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Trending Tags

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

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              Huge outlay for major projects in Qatar’s 2018 budget

              Gulf Times

              December 13, 2017
              in Infrastructure
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              Qatar sets apart $25 billion for major projects next year 
               
              Budget spending set at $55 billion in 2018
               
              Major projects will have a whopping QR93bn set apart in Qatar’s budget for 2018, which sees higher spending and smaller deficit compared with the current financial year.
               
              Budget spending (expenditure) has been set at QR203.2bn in 2018, up 2.4% on the current financial year, figures released in Doha on Tuesday showed. 
               
              The budget projects a revenue of QR175.1bn, up 2.9% on 2017, mainly due to an expected increase in the non-oil revenue.
               
              The budget deficit is therefore expected to be QR28.1bn, down 1.1% from QR28.4bn in 2017. The deficit will be financed through the issuance of debt.
               
              New contracts worth QR29bn, aimed at supporting growth in Qatar’s private sector are expected to be awarded in 2018.
               
              His Highness the Emir Sheikh Tamim bin Hamad al-Thani has issued Law Number (25) of 2017, endorsing the ‘State Budget for 2018’ commencing on January 1, 2018. 
               
              The 2018 budget has taken $45/barrel as the conservative oil price, same as that of 2017.
               
              Key sectors such as health, education and transport along with those related to the 2022 FIFA World Cup will get QR83.5bn, or 41% of the total expenditure.
               
              In line with the directives of the Emir, HE the Minister of Finance, Ali Shareef al-Emadi emphasised that the 2018 budget achieves efficiency in current expenditure, while maintaining allocations to major projects that contribute to Qatar’s development. 
               
              The budget is aligned with the Qatar 2030 Vision (QNV 2030), which focuses on economic, social, human and environmental development, al-Emadi added. 
               
              The 2018 budget also focuses on supporting food security projects, small and medium enterprises and the development of infrastructure in economic and free-trade zones.
               
              The share on spending for major projects (QR93bn) represents nearly 46% of the total expenditure.
               
              Nearly QR12.5bn has been allocated to land development for Qataris in the three-year period between 2018 and 2020. This includes water and electricity networks, sewerage, roads and other related infrastructure.
               
              The 2018 budget has allocated funds for the development of around 3,000 houses for nationals. This year’s budget also provides for the development of logistics, economic and free-trade zones, as well as support for food security projects and agricultural production.
               
              For salaries and wages, QR52.2bn has been set apart in the next year’s budget, up 8.8% on (QR48bn) in 2017. This increase is attributed to the launch of a number of new schools and educational facilities, along with new healthcare centres and hospitals in addition to expansions in some public facilities. 
               
              The health sector has been allocated QR22.7bn, which represents 11.2% of the total expenditure in 2018.
               
              Major projects to improve Qatar’s healthcare services include expansions in Hamad Medical Corporation (HMC) facilities, primary health care centres, Emergency Hospital and the establishment of new health centres, costing QR2.9bn over five years.
               
              The education sector has been given an outlay of QR19bn in the 2018 budget, up 18% on the current year. This will meet the needs of some of the major projects currently underway in the education sector. These include facilities in medicine, pharmacology, and engineering and law colleges of Qatar University, expansion at the Education City and the establishment of new schools at a total cost of QR6.8bn over the next five years.
               
              Transportation and other infrastructure projects were assigned the largest share in the 2018 budget with allocations of QR42bn, which represents 21% of the total expenditure. 
               
              These projects include the Metro, Lusail Light Train, Al Bustan Highway, Orbital Expressway, Al Rayyan/Dukhan Road, Al Khor Coastal Road, expansions in the water and electricity networks and development of infrastructure in existing areas.
               
              The key sports sector and 2022 FIFA World Cup projects would have a total allocation of QR11.2bn in the next year’s budget. These are primarily focused on the completion of stadiums in Lusail, Qatar Foundation, Al Rayyan, Al Wakrah and Al Khor in addition to other sport projects.
               
              Gulf Tims
              12 December
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