Qatar tops world rankings with 10.5% average growth rate for last 20 years

      Published on Friday, 11 May , 2018      22 Views     
Qatar tops world rankings with 10.5% average growth rate for last 20 years

  • Doha News

Giving its growth story more credibility was its placement as first in the world index of countries that have achieved record economic growth in 20 years from 1997.

According to the report by CNBC Arabia, Qatar achieved an average rate of 10.5% compound annual growth to come on top of the world.



China ranked second with an economic growth rate of 9.1%, Ethiopia third with a growth rate of 8%, India fourth with 7% and Nigeria fifth in the world with 5.8% growth.

Economic prospects for Qatar remain positive, with growth expected to reach 2.8% in 2018, while LNG production will rise to 100m tonnes per year by 2023. The World Bank expects the Qatari economy to keep growing this year.

The World Bank, according to a recent report, said the increase in Qatar’s energy export revenues will contribute to easing of financial constraints, as well as spending on the multi-year programme for infrastructure development in preparation for the 2022 FIFA World Cup.

Qatar’s gross domestic product (GDP) rose last year to $220bn, from $218bn in 2016 to a real GDP growth rate of 2%, which is better than expected.

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Category Doha News | 2018/05/11 latest update at 10:55 PM
Source : Qatar Living | Photocredit : Google
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