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Posted On: 1 June 2009 09:18 am
Updated On: 12 November 2020 02:09 pm

Qatar to record highest GDP growth in world

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Qatar’s per capita income has crossed the magical $70,000-mark making it one of the top 10 wealthiest nations in the world. The country is also poised to report the highest economic growth in the world for the current year, says a prominent Kuwait-based financial research firm. Global Investment House said in a country report yesterday, quoting Qatar Statistics Authority (QSA), that Qatar’s per capita income was lifted to a record $70,630 as nominal gross domestic product (GDP) soared to a landmark QR372.4bn ($102.3bn) for 2008 with a growth of 44 percent. While Qatar Central Bank (QCB) estimates suggest a seven to nine percent economic growth for the current year, the International Monetary Fund (IMF) forecasts real GDP growth at 15 to 18 percent. The Economist Intelligence Unit (EIU), on the other hand, projects real GDP growth of 13.4 percent, said Global. “According to such estimates, Qatar is on the way to reporting the highest economic growth in the world for 2009.”