Newly awarded projects during Q3 total QR2.9bn: Ministry of Finance

Newly awarded projects during Q3 total QR2.9bn: Ministry of Finance

Newly awarded projects during the third quarter of 2021 totalled QR2.9bn, the Ministry of Finance said Monday.

The outlay provided for various projects in the third quarter are: infrastructure and roads (QR2.62bn), sewer and drainage (QR166.9mn), parks and green areas (QR71.7mn) and miscellaneous (QR84.7mn).

According to the Ministry of Finance, the projects to be completed this year are Food Security Project, Doha Old Port and Lusail Light Rail Transit.

The work on most of FIFA World Cup Qatar 2022 Stadia has been completed, it said.

Total expenditure on major projects increased by 9.1% compared to previous quarter. The increase was anticipated and was mainly due to large installment payments to deliver various projects, the Ministry of Finance said.

According to the Planning and Statistics Authority (PSA), real GDP in Q2,2021 increased by 4% relative to Q2,2020. The non-hydrocarbon sector recorded growth of 6.2% while hydrocarbon growth stood at 0.7% in Q2-2021 compared to the same period last year.

Sectors severely hit by the pandemic in 2020 and the related Covid-19 restrictions are rebounding strongly. Hospitality, transport and storage, and wholesale and retail trade sectors were the highest performing sectors in Q2,2021.

Moreover, the manufacturing sector recorded strong y-o-y growth of 13.4% in Q2,2021