Qatar’s economic boom continues

In its brief on economic and financial developments in Qatar, International Bank of Qatar (IBQ) noted the country’s impressive performance for a fourth consecutive year, even as it continued to face resource constraints exacerbated by the rapid pace of growth. Nominal gross domestic product (GDP) expanded by 24% in 2006, after averaging an impressive 30% per annum in the previous three years.

he government, led by Sheikh Hamad bin Khalifa Al Thani, is investing in its capacity to manage the pace of growth and to reduce inflationary pressures symptomatic of such a high pace. It is also increasing spending to address infrastructure bottlenecks and improve education and health care. In the next five years, the government is leading an investment program estimated at $130 billion to develop energy, infrastructure, industries, utilities and aviation.

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