Qatar's sovereign wealth fund, Qatar Investment Authority, has bought an almost 10% stake in the company that owns New York's iconic Empire State Building, the official Qatar News Agency reported on Wednesday.
Qatar, whose budget will turn back to surplus in 2017, will remain in one of the strongest fiscal positions in the world over the next decade and continue to hold massive financial buffers through its sovereign wealth fund, according to BMI.
Qatar's public foreign assets are more than 200% of gross domestic product (GDP) this year, which is higher than the Gulf average of 159%.
