Qatari economy has witnessed in the last eight years an impressive growth, based on the report of the recent World Economic Forum today Qatar is the highest Arab economies competitive and occupies first place in the Middle East and rank 26 globally.
Met with the Qatari economy in 2011 feet firmly and achievements of the successive form-centered vision of His Highness Sheikh Hamad bin Khalifa Al Thani, the Emir of Qatar to reach Qatar's production of liquefied natural gas 77 million tons per year as the first country in the world in this industry, and the launch of at least ten strategic installations in the areas of oil and gas and petrochemical industries, aluminum and power generation projects at a total cost of more than 65 billion riyals (17.8 billion dollars) during the same year except for the cost of natural gas (LNG) production lines.
The achievement of this great achievement, while according to official figures, the Qatari economy has doubled 10 times within 12 to 14 years, and emphasizes the relevant international organizations and their periodic reports of this meaning when gathering the excellence of the economic performance of the state especially during the global financial crisis, and where most figures published internationally Qatar's economy on the growth rates of the two numbers for this year and next, it notes the most recent of these reports and the International Monetary Fund, inflation is kept within reasonable limits and at the same time recognize that the unemployment rate remained at its lowest level in the world.
Showed the national development strategy of Qatar (2011 - 2016), it is expected the growth of Qatar's economy rate of 15.7% this year and then slow down to 7.1% in 2012. State expects to achieve financial surplus at 12.1% of GDP in 2011 and external debt increased by 62.3% of the gross domestic product. As shown by the strategy that Qatar plans to invest more than 218 billion riyals (60 billion dollars) through its quasi-governmental organizations in the next five years addition to the $ 65 billion on infrastructure projects. The document said that the investment plans of the Qatari companies except for Qatar Petroleum and its units will exceed SR 130 billion over the period from 2011 to 2016 inclusive of about 100 billion riyals investments will by Barwa and Qatari Diar projects building residential and commercial. That 2010 was a pivotal year for Qatar Petroleum and its subsidiaries with the start of several projects for natural gas (LNG). However, investments will remain relatively strong in the medium term and will be about 88 billion riyals in the period from 2011 to 2016.
And emphasizes the strategic directions of national development of Qatar said the services sector is the main engine of the economy after 2011, has been growing sectors of transport and communications, business and financial services strongly during this period, and the activities associated with the World Cup 2022 of that will provide new opportunities in the tourism sector and in other areas as well. And is expected to provide new airport an active center for air transportation, and the amendments to the law of foreign direct investment made in early 2010 - which allow foreign ownership of projects and companies by 100% in the sectors related services - may contribute to the growth of the service sector, so you may increase its contribution to GDP by the year 2016 to 40% compared to 36% in 2009.
