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Qatar's growth may slow by half, economic adviser says

25 July 2010

Ibrahim Ibrahim, economic adviser to Emir of Qatar, has said the Gulf state's economy may slow by more than half in the next two years, as the country completes its largest energy projects, Bloomberg has reported. With the world's third-largest reserves of natural gas, Qatar is likely to post "double-digit" growth for the next two years, but will cool after that to an annual nominal rate of no more than 9%, assuming the government follows the guidance of senior economic planners, Ibrahim told the news service. "We are going to recommend a targeted economic growth that emphasizes sustainability, competitiveness, and not just simply a number," he said. While the country could maintain double-digit growth beyond 2012, "we don't believe" that should be the strategy, he added.

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