Qatar predicted to grow during global crisis - World Bank

WORLD BANK: A senior official has praised Qatar's efforts in stablising its economy during the global slowdown. (Getty Images)

A senior World Bank official has announced that Qatar is one of the few bright lights amid the continuing global gloom.

While its director of economic policy, Carlos Primo Braga, warned that the worldwide recession was far from over, he highlighted the Gulf state as the only high-growth country.

Addressing the 3rd International Conference on Information and Communication Technologies and Development (ICTD) 2009 in Doha, Braga said Qatar's success was due to its vibrant liquefied natural gas (LNG) industry, The Peninsula reported on Monday.

Qatar’s efforts to put emphasis on knowledge-based economy had played a significant role in stimulating stable economic growth even in the face of the global financial crisis, he added.

“I’m happy with what I’m seeing in Qatar, which is investing in its future, not only in infrastructure, but is also concentrating in its knowledge-based economy to sustain significant growth,” Braga said.

The ICT industry is better positioned to confront the crisis, said Braga. “The telecommunications service is the leading indicator of economic recovery.”

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