Qatar plans to spend over $125 billion in the next five years on construction and hydrocarbon-related projects, the OPEC member's new national development strategy showed on Monday. The economy of the world's top liquefied natural gas exporter should expand by 15.7 percent this year before slowing down to 7.1 percent in 2012, according to a baseline scenario in the document, which outlines Qatari plans for 2011-2016.
"This year, it (economic growth) is going to be very high, next year it will be less, but still in double digits," the emir's economic adviser Ibrahim al-Ibrahim told reporters.
"That (7.1 percent in 2012) projection was based on a price of oil that is now higher. The impact of the expansion in oil, and especially gas has not been felt in the economy yet," said Ibrahim, secretary general at the General Secretariat for Development and Planning.
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