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Qatar’s key projects on hold due to embargo

Qatar’s key projects on hold due to embargo

DOHA: The key projects in Qatar had been delayed due to the lack of inventory construction materials and other sources of imports, an International Monetary Fund (IMF) report said, reported local media Tuesday.

The report also mentioned that Qatar has developed shipping routes with Kuwait and Oman for alternative food supplies to ease fear of shortage. In June, Saudi Arabia and the United Arab Emirates (UAE) led Bahrain and Egypt in closing airports and seaports to Qatar, claiming it fostered terrorism. Doha denies this but is isolated from the leading Gulf Cooperation Council (GCC) powers.

Despite the embargo, Qatar succeeds in diversifying its source of imports and external investors, the report said. Over the past three years, oil growth has remained stagnant, report said. Meanwhile, Qatar looks for reform of the private sector growth to help public sector economy to flourish.