Qatar is now spending $500m a week on capital projects in preparation for its World Cup games in 2022, said its Minister of Finance.
El-Emadi also said that the country would deliver all requirements for the World Cup on time and that all infrastructure works would be completed by 2022. For example Brazil spent over $11 billion Dollars for the 2014 World Cup, while Russian Federation is on pace to spend more than $10 billion USD for 2018′s event. El Emadi told the press that this figure covers more than just stadiums, "That doesn't mean the stadiums only, we are talking about highways, rail, ports, airports, those are really underway even hospitals and everything". "If you look at stand alone, the World Cup, no it is not", the finance minister said.
While the global fluctuation of energy prices has effected Qatar recently, the country with the world's third-largest collection of natural gas and oil reserves is spending lavishly to overhaul its entire infrastructure for the event.
In 2014 Brazil struggled to get many of its stadiums ready.
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Of the projects planned, the contracts for 90 percent of them have been awarded, he added. The extreme temperatures, high costs and workers conditions have made Qatar one of the most controversial World Cup host nations. Asked if Qatar would consider financing its deficit by selling debt on global bond markets this year, he said no final decision had yet been taken by the government.
Last year, Qatar ran an estimated budget deficit of more than US$12 billion, its first in 15 years.
Mr Emadi said the money for the World Cup projects had been protected from cuts to the national budget caused by low oil and gas prices.