Qatar Archives - Economy Watch

Qatar Economy Presses on Despite Low Oil Prices

Infrastructure projects keep Qatar’s economy afloat in the wake of low oil prices, according to AFP. The government is spending lavishly for the 2022 World Cup event, including massive railway and reservoir construction projects.

According to the Qatar National Bank, the economy will grow 4.7 percent in 2015 and roughly 6.4 percent in the next two years due to infrastructure spending. The combination of lower energy revenue and greater investment spending expects to produce a smaller fiscal deficit, and the rise in oil prices in 2017 will procure an economic surplus.

Qatar To Invest $1 Billion In Foreign Energy Infrastructure

Qatar has vowed to invest close to $1 billion in foreign energy infrastructure assets, reported Reuters on Monday, through the creation of a new investment fund, which will be run by three state-owned entities.

Qatari Bank Named As World’s Strongest In First Year On Bloomberg List

The semi state-operated Qatar National Bank (QNB) has been named as the world’s strongest bank in Bloomberg Markets’ third annual ranking of global financial institutions, after seeing its profits rise by an average of 27 percent per annum over the last five years, thanks to strong government supervision and rapid international expansion.

Qatar Makes First Natural Gas Discovery In 42 Years

Qatar, the world’s largest exporter of Liquefied Natural Gas (LNG), has found as much as much as 2.5 trillion cubic feet (tcf) of natural gas in an offshore field, reported Gulf News on Sunday, marking the first time the emirate has discovered gas in 42 years – since uncovering the world’s biggest gas field, the North Field, back in 1971.

Qatar To Launch $12 Billion Overseas Investment Fund

The Qatari government on Tuesday announced plans to launch a new $12 billion investment company focused on buying distressed assets overseas, with the aim of providing an opportunity for its private sector to invest worldwide alongside the state, reported Bloomberg News.

Qatar To Double Financial Aid To Egypt

Qatar’s government announced on Tuesday that it would be providing an additional $2.5 billion in financial aid to Egypt, taking the gulf state’s contribution to Cairo up to $5 billion – made up of an outright grant of $1 billion and a further $4 billion in bank deposits.

Qatar’s Movers and Shakers Stand in the Spotlight

Qatar’s powerful movers and shakers have emerged fully into the spotlight following the release of Construction Week Qatar (CWQ) magazine’s ‘Power 50’ list. Not only does the list make fascinating reading in its own right, but it also confirms the incredible wealth generated by a country which only a few decades ago stood on the edge of ruin. Little wonder companies right across the globe look in awe at Qatar, with some of them no doubt wrestling with the problem of how to claim even a tiny piece of the action.

The Power of Qatar’s Money: How A Tiny Nation Can Wield Large Influence In The Middle East

Qatar may be one of the smallest nations in the Middle East (both in population and land area), but its immense wealth – stemming from its natural gas reserves – has made it one of the biggest geopolitical players in the region. Amid the conflicts in Egypt, Libya and Syria, the ever-extending influence of the Qatari Riyal has ensured that the nation’s interests are always protected, both at home and abroad.

The first concern of the Emir of Qatar is the prosperity and security of the tiny kingdom. To achieve that, he knows no limits.

Qatar Economic Structure

Prior to Qatar’s discovery of oil in 1940, the country’s economy was primarily focused on fishing and pearl diving. While oil exploration was temporarily discontinued due to World War II, the resumption of its activities in 1946 and the start of oil exportation in 1949 transformed Qatar’s dormant society and economy into a thriving marketplace.

Qatar Industry Sectors

As is the case for it’s Middle Eastern neighbours, Qatar is over-reliant on oil and natural gas. The industries account for 50 percent of Qatar’s GDP, 85 percent of export earnings and 70 percent of government revenues.

Qatar’s oil production operates close to its threshold, however potential avenues for growth in its natural gas industry remain, with large natural gas reserves discovered off Qatar’s northeast coast.