Covid-19 does away with new projects in Qatar

Shaimaa Hefzi

The Qatari economy is paying dearly for the support the Qatari regime is offering to terrorism and terrorist groups. The Covid-19 outbreak comes to increase the suffering of the same economy.

Skepticism

The deterioration of the Qatari economy comes at a time international organizations cast doubts on the effectiveness of the measures taken by Qatari authorities to limit the scope of the Covid-19 outbreak. This also comes at a time the same organizations suspect the overall number of virus infections declared by Qatari authorities.

Expected recession

Qatari Emir, Sheikh Tamim bin Hamad al-Thani, asked his government to postpone $8.2 billion in unawarded contracts on capital expenditure projects due to the coronavirus outbreak, a bond prospectus seen by Reuters showed.

The spread of the coronavirus may continue to negatively impact the Qatari economy and financial markets and could lead to a recession, the Gulf state also said in the document, dated April 7.

Qatar on Tuesday started marketing a triple-tranche U.S. dollar-denominated bond.

This also comes amid a plethora of international reports about Qatari violations against foreign workers who continue to work on construction sites within Qatar’s preparations for the 2022 FIFA World Cub.

The same reports warn that concealing the exact number of Covid-19 infections in Qatar can turn the championship into a major event for spreading the disease worldwide.

Around 500 foreign workers have contracted the virus so far, according to the German radio.

The same workers complain against the lack of enough food and necessities.

However, the Qatari government denies this and says it had to isolate some regions because of the presence of infections among the workers in these regions.

The workers are provided with food and protection equipment every day, the government says.