Inflation below 2% is in green.12910128/Economic_Diversification_in_the_Arab_Gulf_States Overall, it was the best performing of the Gulf Cooperation Council markets in the last quarter of 2008 and most banks posted substantial profits for 2008. However, large The gas condensate can be refined to usual oil products in specialised refineries. Mean wages were $59.99 per In February 2012, the International Bank of Qatar reported that GDP grew by 19.9% in 2011, but estimated that 2012 growth would slow to 9.8%The following table shows the main economic indicators in 1980–2017. The Qatari government also announced in March 2009 that it was planning to buy the investment portfolio of the banks in the hope this would encourage them to continue lending. Accordingly, careful planning has gone into industrial development. A major aspect of expansion plans is the Other niche tourism segments receiving special focus include cultural tourism on the back of the high publicity opening of Doha's With a fast-expanding population and substantial economic growth over the past decade, a reliable and extensive transportation network is becoming increasingly necessary within Qatar. In a bid to strengthen the banks’ positions, the Qatar Investment Authority (QIA) announced in early 2009 t… Given the high level of integration between Qatar's economy and the Persian Gulf region, as well as the wider world, a slowdown in business and banking activity seemed inevitable. The costs are a bit higher but it is normal today for companies to use the gas condensate too. In addition to financial support, the government has also worked to ease business regulations in a bid to increase private sector activity. The Qatari banking sector managed to escape the direct impact of the global subprime fallout, but was not altogether unscathed by its aftershocks.
The economy was boosted in 1991 by completion of the $1.5-billion Phase I of North Field gas development. In 2008 the As driving is the primary mode of transport in Qatar, the road network is a major focus of the plan. Most are joint ventures between European and Japanese firms and the state-owned The government considers industry to be an integral part of its plan to diversify the economy and maximize its huge natural gas reserves, which serve as the primary feedstock for the sector.
The funding required to meet this goal was present in sufficient amounts; in 2008 the state allocated some $17bn for tourism development through 2014, most of which was allocated towards hotels, exhibition space and infrastructure. Project highlights in this segment include the multibillion-dollar Doha Expressway and the Qatar is now the richest country in the world, on a per person basis.This table is of Qatar's gross domestic product at market prices as estimated by the For purchasing power parity comparisons only, the US Dollar is exchanged at 3.67 Qatari Riyals. Indeed, over the past few years, demand for construction materials experienced a major surge as the development boom swept the The Qatari banking sector managed to escape the direct impact of the global subprime fallout, but was not altogether unscathed by its aftershocks. Before the emergence of petrol-based industry, Qatar was a poor pearl diving country. With an eye towards exports, development has been clustered around the ports of Petrochemicals and fertilizers supply make up a large portion of the industrial base, along with steel and other construction materials, through Qatar Steel and Qatar Primary Material Company (QPMC). Under the ambitious five-year development plan of the Qatar Tourism and Exhibitions Authority (QTEA), the government aimed to boost the number of visitors from 964,000 as of 2007 to 1.5m by 2010. In 1996, the Qatargas project began exporting Qatar's heavy industrial projects, all based in Umm Said, include a refinery with a 50,000 barrels (8,000 m³) per day capacity, a fertilizer plant for urea and ammonia, a steel plant, and a petrochemical plant. OPEC (Oil production will not long remain at peak levels of 500,000 barrels (80,000 m³) per day, as oil fields are projected to be mostly depleted by 2023. In order to keep up with a rising number of visitors, the government set a goal of increasing hotel capacity 400% by 2012. Oil offshore production in 2008 for PS-2 and PS-3 blocks was about 31.1 million barrels (84,995 b/d). All these industries use gas for fuel. Nevertheless, Qatar's banking sector has been faring relatively well, considering the strife experienced in other countries, and insiders are confident that activity will return to its previous brisk pace in the second half of 2009 as confidence slowly rebuilds around the globe. New Delhi, India: Global Book. But the sector is also facing issues of liquidity, declining customer confidence and a forced reluctance to lend.
Cautious sector sentiment has also been compounded by the Qatar Central Bank's (QCB's) lending restrictions, which demand a loan-to-deposit ratio of 90%.