Although every of the GCC countries experienced a turn down in the real GDP growth in 2009, Qatar was the sole that documented an encouraging growth and it is still anticipated that the GDP in 2010 will arrive at the level of 16.2 %.Qatar’s economy handled to even the economic crisis effects merely by varying from its neighbors. As stated by Reuters,Qatar’s four novel liquefied natural gas plants will so far double the capacity of the countryside. Similarly the world’s major natural gas exporter is estimated to overcome two other major players in the world’s oil assembly (UAE andSaudi Arabia) (dp-news, n.p, n.d).
Target market for exports
The major export openings inQatarin the areas of oil and natural gas were tinted to spectators ofUKinvestors and SMEs at the seminar; together with the $3.5-billion Dolphin venture, the earliest cross-border gas pipeline in the Gulf Arab state. Future road and rail network and growth projects in the country above the next few years are also expected to be considerable and besides new oil and gas facilities, will contain ports, airfield, quite a few original roads, hotels, museums and suburban projects (abcc, n.p, n.d).
At first frozen as a further eco-friendly alternative for oil, numerous of factors are causative to burgeoning flaw in the gas sector’s long term point of view. Following the most recent crisis, demand for oil and gas cut down, and fears of prolonged fallout from the calamity could more discourage demand. There is also mounting fright of oversupply following huge investments in gas production (conservative and other) in current years. Consequently, gas prices have fallen sharply since 2008. In spite of these threats,Qataris projected to gain from its increasing gas sector. With production prices well beneath world averages,Qataris superior positioned than others to weather a fall in prices. Though, a superior perceptive of how these dynamics could influence the upcoming elicits a nearer look at gas contracts (and associated pricing mechanisms). On the whole, this issue re-emphasizes the virtues of monetary diversification; an objective very elevated on the government’s agendaQatarhas gnarled the economic crisis with partial harm. Real GDP could rise by 16% this year, strengthened by increasing gas output and well-built non-hydrocarbon enlargement. A considerable budget surplus is estimated, in spite of increased expenses on infrastructure and diversification. In the meantime, the external surplus may exceed prior levels, driven by increasing hydrocarbon exports. After a short period of deflation in 2009, inflation is anticipated at 4% in 2010. This is fine underneath the double-digit speed of preceding years and would let for better monetary policy elasticity (Boustany, 3, 2010).Qatarhas windswept the economic crisis with partial damage. While the catastrophe did expose weaknesses in various sectors (such as real estate and equities), tough measures taken by the administration have helped turn away much of the connected losses (Boustany, 2, 2010).
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