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02 March 2024

Qatar plans $550m support for small projects

Qatar’s minister of state for energy and industry said recently the Gulf state eyes a 10 per cent growth in fiscal condition. (AFP)  

By Reuters
Qatar plans to spend 2 billion rials ($549.7 million; Dh2 billion) to promote small to medium-sized projects in the major Gulf Arab gas exporter, the official Qatar News Agency reported.

A government-run body dedicated to smaller projects would be established under the plan, QNA quoted Commerce and Business Minister Sheikh Fahd bin Jassim al-Thani as saying on Tuesday.

A study into what form the support should take would begin this year, Sheikh Fahd said, adding that Qatar's small and medium-sized companies had not been badly affected by the global financial crisis.

Earlier this month, the minister of state for energy and industry said Qatar's economy would expand about 10 per cent this year as the world's largest exporter of liquefied natural gas continues to boost its gas production.