Please update this article to reflect recent events or newly available information.Nuqudy.com: "Qatar to register 9.8% economic growth in 2012" 12910128/Economic_Diversification_in_the_Arab_Gulf_States (Parveen, T. (2014). In a bid to strengthen the banks’ positions, the Qatar Investment Authority (QIA) announced in early 2009 that it was willing to take a 10-20% stake in any interested local listed banks by way of a capital injection, although this was later reduced to 5% stakes and an additional 5% at the end of 2009.
Under the ambitious five-year development plan of the Qatar Tourism and Exhibitions Authority (QTEA), the government aimed to boost the number of visitors from 964,000 as of 2007 to 1.5m by 2010. The Qatari banking sector managed to escape the direct impact of the global subprime fallout, but was not altogether unscathed by its aftershocks.
Overall, it was the best performing of the Gulf Cooperation Council markets in the last quarter of 2008 and most banks posted substantial profits for 2008. The costs are a bit higher but it is normal today for companies to use the gas condensate too. Accordingly, careful planning has gone into industrial development. Joint Ventures facilities (PS-1, ALK, K & A): Combined oil production from these three joint venture production facilities in 2008 was 57.4 million barrels (156,873 b/d).Qatar's proved reserves of gas are the third-largest in the world, exceeding 7000 km³ (250 trillion cubic feet). OPEC (Oil production will not long remain at peak levels of 500,000 barrels (80,000 m³) per day, as oil fields are projected to be mostly depleted by 2023. So far the government, the primary transport developer, has done well in terms of keeping up with demand for new transportation options. Before the emergence of petrol-based industry, Qatar was a poor pearl diving country. With an eye towards exports, development has been clustered around the ports of Petrochemicals and fertilizers supply make up a large portion of the industrial base, along with steel and other construction materials, through Qatar Steel and Qatar Primary Material Company (QPMC). Oil offshore production in 2008 for PS-2 and PS-3 blocks was about 31.1 million barrels (84,995 b/d). The economy was boosted in 1991 by completion of the $1.5-billion Phase I of North Field gas development.
The exploration of oil and gas fields began in 1939.Qatar's economy was in a downturn from 1982 to 1989.
In addition to financial support, the government has also worked to ease business regulations in a bid to increase private sector activity. A major aspect of expansion plans is the Other niche tourism segments receiving special focus include cultural tourism on the back of the high publicity opening of Doha's With a fast-expanding population and substantial economic growth over the past decade, a reliable and extensive transportation network is becoming increasingly necessary within Qatar. Economic Diversification in the Arab Gulf States: Issues and challenges. The funding required to meet this goal was present in sufficient amounts; in 2008 the state allocated some $17bn for tourism development through 2014, most of which was allocated towards hotels, exhibition space and infrastructure.
However, large The gas condensate can be refined to usual oil products in specialised refineries. Mean wages were $59.99 per In February 2012, the International Bank of Qatar reported that GDP grew by 19.9% in 2011, but estimated that 2012 growth would slow to 9.8%The following table shows the main economic indicators in 1980–2017. Nevertheless, Qatar's banking sector has been faring relatively well, considering the strife experienced in other countries, and insiders are confident that activity will return to its previous brisk pace in the second half of 2009 as confidence slowly rebuilds around the globe. In 2008 the As driving is the primary mode of transport in Qatar, the road network is a major focus of the plan.
Inflation below 2% is in green.12910128/Economic_Diversification_in_the_Arab_Gulf_States
New Delhi, India: Global Book. But the sector is also facing issues of liquidity, declining customer confidence and a forced reluctance to lend.
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