Expansion in natural gas production drives growth
The Qatari economy will grow by 16 per cent in 2010, according to the governor of the Qatar Central Bank, Sheikh Abdullah bin Saud al-Thani.
He said, at MEED’s Qatar Projects 2010 conference in Doha on 26 January, thatythe pace of growth would rise significantly from 2009 when gross domestic product (GDP) rose by 9 per cent in real terms.
“This growth will be supported by significant expansion in natural gas production, while increased spending in areas like education and healthcare will drive non-hydrocarbon sector growth,” he said.
Inflation had decreased during 2009 because of falling rental costs, and he predicted that it will remain at lower levels in 2010.
“After increasing during 2008 due to an upturn in rental prices, inflation has since declined to more comfortable levels and is expected to remain moderate going forward,” he added.