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Qatari economy witnessing continued growth: Minister


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Qatar Tribune, 16 March 2018

Overcoming all challenges, the Qatari economy is witnessing continued growth by diversifying the sources of income, Minister of Economy and Commerce HE Sheikh Ahmed bin Jassim bin Mohammed al Thani has said.

"The country is stimulating the productivity of non-oil sector and supporting the private sector to achieve Qatar National Vision 2030, which aims to establish a diversified and competitive knowledge-based economy," Sheikh Ahmed said.

The minister said this during a meeting with a delegation of the Parliamentary Assembly of the North Atlantic Treaty Organisation (NATO), headed by the Chairman of the Portugal-Korea Parliamentary Friendship Group, Vitalino Canas, in Doha, a press statement said on Thursday.
During the meeting, the two sides shared views on issues of common interest and discussed aspects of joint cooperation, especially in the economic and trade fields, and ways to develop them, in addition to enhancing investment opportunities between Qatar and NATO countries, the statement said.
Sheikh Ahmed hailed the close strategic relations between Qatar and NATO countries and expressed hope to further enhance cooperation at all levels.

Highlighting the strength of the Qatari economy, Sheikh Ahmed said,"The country's gross domestic product (GDP) in 2017, reached $220 billion, compared to $218 billion in 2016, while the real growth rate of GDP at constant prices, reached around 2 percent in 2017."
According to the latest World Bank report, Qatar's real GDP growth would rise to about 2.6 percent this year, the minister noted.

Sheikh Ahmed said the contribution of the non-oil sector to the GDP at constant prices reached 52 percent, while Qatar's foreign trade witnessed remarkable growth in 2017, increasing by 16 percent to reach $103 billion, compared to $89 billion in 2016.

He pointed out that Qatari exports increased by 19 percent in 2017 to reach $68 billion, compared to $57 billion in 2016, which was reflected in the total trade balance of the country, achieving a large surplus of around 40 percent, to rise from $25 billion in 2016 to $35 billion in 2017.

Speaking on the investment incentives offered by Qatar, the minister said that the successful economic policies adopted by Qatar have greatly contributed to enhancing investor confidence in the national economy.
"Qatar is one of the most important countries in the region in terms of encouraging investment, thanks to the balance of its policies and economic decisions, as well as its strategic position that enables it to become a commercial hub for various countries in the region and the world," he added.

Qatar Tribune

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