Qatar to steam ahead despite crisis as GCC states slow down

Qatar's economy will steam ahead in 2009 when performance in most other regional oil producers will tumble and the global financial crisis is pushing many other economies into a deep abyss.

The gross domestic product of the tiny Gulf Opec producer leapt by more than 19 per cent in real terms last year and independent estimates showed growth could still be as high as 10 per cent this year.

The reason for such a strong performance at a time when other economies are jolted by the global crisis is that Qatar is set to almost double its production of liquefied natural gas to more than 60 million tonnes in 2009 before output peaks at 77m tonnes by end-2011. "Qatar's economy is still very strong despite the global financial distress…it will remain strong as it is a real economy which enjoys many advantages and points of strength," said Abdullah bin Hamad Al Attiyya, Qatar's Deputy Premier and Minister of Energy and Industry.