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FINANCIAL NEWS
Qatar?s economy grows 8.7% in 2009
07 May 2010
(MENAFN) Qatar?s statistics office reported that the country?s real gross domestic product (GDP) grew 8.7 percent in 2009, which is lower than expected but still benefitting from gas sector growth, Reuters reported.
Qatar, the world’s biggest natural gas exporter, is poised to outperform Saudi Arabia and the UAE in the years to come, helped by expansion of its gas facilities and government infrastructure spending.
Qatar Statistics Authority said in a statement that these preliminary results are subject to revisions as more information is gathered. The 2009 growth figure is lower than the 11 percent that has been expected by Qatar?s deputy prime minister in January.
In 2008, the country?s GDP hiked 25.4 percent. The statisticians re-introduced reporting real GDP growth and revised growth rates both in constant 2004 prices and current prices for 2005-2009, saying they were trying to collect producer prices to measure real GDP more accurately.
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