Emir sees Qatar growth at 9% in fiscal year
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 03 November 2009
Qatar's economy is set to grow by 9 percent in the fiscal year of 2009/2010 and by 16 percent in the following year, Emir Sheikh Hamad bin Khalifa Al-Thani said on Tuesday.
He admitted that Qatar was "vulnerable" to the negative effects of the global downturn but that it had "adopted numerous measures" to limit the impact.
"Despite forecasts of global financial institutions (that) the growth rates in most developed and developing countries will decline, the growth rate of Qatar's economy in the current fiscal year will reach about 9 percent and a forecast for the coming fiscal year is 16 percent," Thani said in a speech published by Qatari state agency QNA.
"These rates are high comparing to world growth rates. This is indicative of the extent of success of the State of Qatar in dealing with the global economic crisis, by means of the effective utilisation of fiscal and monetary policy tools," he added.
"Like the rest of the world countries, we were vulnerable to the negative effects of that crisis. We found that it is incumbent on us to push forward with the implementation of our defined programmes, according to the prior plans, and continue to achieve the aspired development rates.
"Towards that end we have adopted numerous measures and arrangements, to limit the negative effective effect s of the crisis on us," the Emir said.
READERS' COMMENTS
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST POLITICS & ECONOMICS
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST POLITICS & ECONOMICS
LATEST MIDDLE EAST BUSINESS NEWS
- Culture & Society: IN VIDEO: Wrath of the rains in Jeddah
- Media & Marketing: Qatar's first feature film to release in May 2010
- Politics & Economics: Norway says Iran confiscated Ebadi's Nobel
- Culture & Society: Random checks for bus travellers to Abu Dhabi
- Sport: Alinghi again makes case for RAK as race venue
SHARE PRICE CHECK
RELATED STORIES
Gulf Rebound
3 stories- Job losses seen slowing in UAE - StanChart
26 Nov '09 | News - Kuwait firms coping amid global crisis - Ernst & Young
26 Nov '09 | News - Dubai raises further $5bn in bond sale
25 Nov '09 | News
Ministry of Economy and Commerce - Qatar
- Qatar retail major charged over Ramadan price hikes
21 Sep '09 | News - Qatar, Turkey set to sign trade agreements
17 Aug '09 | News




