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Qatari Economy Will Grow by 15% in 2010 – BMI Report

Doha, Qatar : 06 July 2010

In its latest report, Business Monitor International said that this year will be “massive” for Qatar due to its liquefied natural gas sector. LNG production in Qatar increased to 62m tonnes per year in the middle of 2010 from 40m tonnes in 2009.

BMI’s report also stated that  the Governments “countercyclical spend” is expected to maintain economic growth.  Government spending in Qatar is expected to increase by 12% to QR102.3bn in comparison to 2009. BMI analysts also said that the budget will remains positive and inflation will be improving in 2011.

In a similar vote of confidence, Standard and Poor raised the State of Qatar’s long-term sovereign ratings to ‘AA’ from ‘AA-’, rewarding the  Qatari economy for “weathering the global downturn well.” S&P further predicted the Qatari Economy to be one of this years fastest growing economies, with GDP per capita reaching almost 11 per cent in 2010. This is largely due to investments in the LNG industry, seeing a rise in production to 78 million tons per year by 2012 and a consequential boost in export receipts. This is great news for those who plan to settle in Qatar and are looking for job opportunities there.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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