Infrastructure spending and the opening of a new gas field could drive economic growth in Qatar this year to 4.5 per cent this year.

“Qatar has been one of the fastest-growing countries in the region and the near-term macroeconomic outlook remains strong,” said Christine Lagarde, managing director of the Washington-based IMF, after a visit to Doha. “Growth could accelerate from 4 per cent in 2014 to above 4.5 per cent this year and the next, supported by a large public infrastructure programme and the opening of a new natural gas field.”

Lower energy prices will have an impact on the Qatari economy in the future. “The decline in oil and natural gas prices will substantially reduce external and fiscal surpluses, but its impact on growth will be softened in the near term due to the availability of Qatar’s sizeable financial buffers and continued public investments,” said Lagarde.