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Qatar to invest up to $170bn over next decade
Qatar plans to invest between up to $170billion on infrastructure and oil and gas projects over the next decade, according to Minister of Finance and Economy HE Yousuf Hussein Kamal.

By contrast, Qatar allocated more than $75billion for infrastructure projects between 2004 and 2010, peaking at an estimated $20billion in 2008 alone. In January this year there were projects worth $85billion under development, with additional projects worth $130billion planned for the next three years.

Qatar's real gross domestic product (GDP) is expected to record 18% growth in 2011 if oil prices remain at between $70 and $75 a barrel.

The state boosted spending by 25% in the current fiscal year to about $32.4billion, helped by robust oil prices and gas output expansion. It is set to spend even more in the run-up to hosting the FIFA 2022 Soccer World Cup.

The Minister was speaking at MultaQa Qatar 2011, a conference dedicated to the insurance and reinsurance industry. The two-day conference, entitled 'Addressing the Prospects and Challenges of Growth, Competition and Regulation', was hosted by the Qatar Financial Centre Authority.

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