Qatar Country Profile
Autor: Nagesh Kamble • November 10, 2017 • Research Paper • 2,795 Words (12 Pages) • 397 Views
- For the purpose of the assignment the country chosen is ‘Qatar’.
The State of Qatar
- Capital : Doha
- Population : 2.7 million
- Area : 11,437 sq km
- Language : Arabic
- Religion : Islam
- Life expectancy : 78.5
- Currency : Riyal
- LEADER : Emir: Sheikh Tamim bin Hamad al-Thani
- GDP : $171 billion
- GDP rank : 52
- GDP growth :2.6%
- GDP per capita : $108,786 (nominal)
- Population below poverty line : 0%
- Inflation (CPI) : 3.8%
- Labor force : 1.691 million
- GDP by sector Agriculture : 0.1%; Industry: 51.1%; Services: 48.8%
(Source: UN, World Bank, MDPS, http://www.bbc.com/news/world-middle-east-14702226)
Background
After Independence from the Britain (In 1971), Al-Thani Familiy has rules the Qatar and Since 2013, Sheikh Tamim bin Hamad Al-Thani is in power. He has given importance to issues like Infrastructure, education, health. Qatar is known for its Oil reserves and Natural Gas reserves. The Oil reserves are more than 25 Billion Barrels and it is world’s 3rd largest nation to have gas reserves. Qatar has won Bid to host 2022 Foot-Ball World Cup. For the same the Infrastructure development like road, rail, new port, stadium and other sport related facilities are in full swing at Qatar.
- Economy - overview:-
Qatar’s economy is majorly driven by Oil & Gas sector, having share of more than 50% of government’s revenue. This revenue source drives Qatar’s high economic growth and per capita income levels. Due to larger export involved in this sector, Qatar’s economy faces the external shocks to impact the economical balance. However economic diversification has been contributed by growth in financial services and manufacturing sector also.
Because of lowered oil prices in world market, after 15 years Qatar faced first fiscal deficit and hence Qatar government has tightened its spending. And to mitigate this deficit Qatar Sold 9 Billion USD Bonds, which is largest Middle East bond issue in history. Hence, Qatar need better structural reforms for enhancing competitiveness.
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