Report: Qatar’s economy grew 14% last year, one of the highest rates in the world
The country saw double-digit economic growth in 2011, Reuters reports, citing new figures from the Qatar Statistics Authority.
At a rate of 14 percent, the expansion of Qatar’s economy was one of the highest in the world, Reuters said, although lower than the predicted rate of 17.5 percent, and no explanation for the discrepancy was given. Growth for 2010 was 16.6 percent.
Qatar’s natural gas & oil industries continue to be the primary drivers of the economy, but with a state decision to temporarily freeze the sector’s expansion, economic growth rates are expected to slow to a single digit rate of 6.6 percent in 2012.
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