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28 November 2016
By Mohammad Shoeb
The Qatari economy will continue to remain vibrant due to its strong macroeconomic fundamentals. Despite lower oil & gas prices, and global economic downturn, the economy grew by 3.3 percent in 2015, faster than the global everage of 3.3 percent.
This became possible as a result of the overall expansion of the non-monetary economy,and Qatar’s GDP is expected to grow by 3.9 percent this year,said the Minister of Economy and Commerce, Sheikh Ahmed bin Jassim bin Mohammed Al Thani, in his opening address at an international conference on ‘Economic Competitiveness’ here yesterday.
Addressing at the 16th edition of the annual conference titled: ‘Competitiveness: Opportunities and Challenges Facing the Arab States in the Next Decade’, organized by Arab Administrative Development Organization (ARADO), a League of Arab States entity, in collaboration with the Ministry of Economy and Commerce, the Minister noted that Qatar’s has emerged as one of the most competitive economies in the world which has helped strengthening its macroeconomic indicators.
The government, as part of its long-term strategy, has been focusing to improve several key pillars for achieving the objective of a diversified and sustainable society. As a result the economy has performed exceptionally well over the last few years in several global studies measuring the ease of doing business and competitive environment, legal system and access to finance.
“In 2015, despite global economic challenges and falling energy prices, Qatar registered a GDP growth of 3.7 percent, exceeding the global average of 3.3 percent. Our macroeconomic fundamentals are strong, therefore, we are expecting the economy would grow by 3.9 percent in the current fiscal year,” said the Minister.
Sheikh Ahmed also expressed confidence that the two-day conference will be a platform to exchange views and constructive dialogue on the reality of economic competitiveness in the Arab countries and means of its development.
The Minister reiterated that the progress in competitiveness indicators is an important evidence of the country’s economic power, stressing that the strength of the economy and its sustainability stems from its ability to compete with other economies.Sheikh Ahmed also called for paying special attention to competitiveness at the economic policy level .
By Mohammad Shoeb
The Qatari economy will continue to remain vibrant due to its strong macroeconomic fundamentals. Despite lower oil & gas prices, and global economic downturn, the economy grew by 3.3 percent in 2015, faster than the global everage of 3.3 percent.
This became possible as a result of the overall expansion of the non-monetary economy,and Qatar’s GDP is expected to grow by 3.9 percent this year,said the Minister of Economy and Commerce, Sheikh Ahmed bin Jassim bin Mohammed Al Thani, in his opening address at an international conference on ‘Economic Competitiveness’ here yesterday.
Addressing at the 16th edition of the annual conference titled: ‘Competitiveness: Opportunities and Challenges Facing the Arab States in the Next Decade’, organized by Arab Administrative Development Organization (ARADO), a League of Arab States entity, in collaboration with the Ministry of Economy and Commerce, the Minister noted that Qatar’s has emerged as one of the most competitive economies in the world which has helped strengthening its macroeconomic indicators.
The government, as part of its long-term strategy, has been focusing to improve several key pillars for achieving the objective of a diversified and sustainable society. As a result the economy has performed exceptionally well over the last few years in several global studies measuring the ease of doing business and competitive environment, legal system and access to finance.
“In 2015, despite global economic challenges and falling energy prices, Qatar registered a GDP growth of 3.7 percent, exceeding the global average of 3.3 percent. Our macroeconomic fundamentals are strong, therefore, we are expecting the economy would grow by 3.9 percent in the current fiscal year,” said the Minister.
Sheikh Ahmed also expressed confidence that the two-day conference will be a platform to exchange views and constructive dialogue on the reality of economic competitiveness in the Arab countries and means of its development.
The Minister reiterated that the progress in competitiveness indicators is an important evidence of the country’s economic power, stressing that the strength of the economy and its sustainability stems from its ability to compete with other economies.Sheikh Ahmed also called for paying special attention to competitiveness at the economic policy level .
© The Peninsula 2016
