Economic and financial

The Qatar economy is one of the world's fastest growing, with real GDP growth of 9.9% in 2004, an estimated 8.8% in 2005 and 9.3% in 2006. Fiscal policy is prudent, with regular large surpluses on fiscal and on current account. Qatar's risk rating leads the region, with Standard and Poor rating at A+ and Moody's at A1, reflecting not only the fundamental soundness and strength of the Qatar economy, but also the favourable regulatory, legal and business environment.

Reliance on crude oil exports in the past has been replaced by a two pronged approach to management of the Qatar economy. This focuses not only on developing the country's huge natural gas reserves and its expansion of liquefied natural gas, petrochemicals and condensates production, but also on a programme creating a more broadly based Qatar economy through economic liberalisation and diversification.

That is why the Government's aim is not merely to make Qatar the world's leading producer of liquefied natural gas by 2010, but also to further develop and enhance the Qatar economy through investment in and expansion of its financial centre to attract international financial services and associated companies into sectors such as transport and tourism, health and education.