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    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

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    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

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    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

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    Africa: From Food Importer to Global Powerhouse

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    Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

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    Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

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    Citrus and Potatoes Lead Egypt’s H1 Agricultural Exports, Reaching 5.2 Million Tonnes

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    Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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      Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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      Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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      Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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      Consumer Electronics Boom Continues Across GCC, Middle East

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      Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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      Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

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      Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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      Oman Advances Vision 2040 with 95% of Strategic Programs Underway

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        Baghdad Metro Project Moves Forward Under New Implementation Strategy

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        Financing a Greener Environment: How Sustainable Finance is Reshaping the Future

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        Deal Signed to Build Bahla Cultural Center Facility in Oman

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        Lebanon’s Cement Deliveries Surge 57% in Q1 2025, Signaling Construction Growth

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        Iraq Approves 5,000-Unit Housing Project in Basra

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        AIIB and Arab Fund Establish Partnership to Promote Sustainable Infrastructure

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        Saudi Arabia’s Construction Market Set to Hit $96 Billion by 2030

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        New Aerial Images Showcase the Monumental Scale of Baghdad’s $1 Billion+ Landmark Project

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        Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

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          Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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          Iraq and Power China International Sign Deal to Strengthen National Power Grid

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          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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            Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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            Qatar’s Health Spending Set to Climb 14% by 2029

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            Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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            Qatar and the UK Explore Deeper Cooperation in Healthcare

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            The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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            Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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            Daewoong Pharmaceutical Debuts Nabotah Botulinum Toxin in Qatar

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              Qatar Expands Role as a Leading Global Tourism Destination

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              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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              Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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              Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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              Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

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              Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

              Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

              Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

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              Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

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                Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                Packaging Becomes Lifeline for Struggling Print Industry

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                MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

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                Printed Packaging Labels & Release Liners Set for Strong Global Growth

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                  Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                    Oman: A Strategic Logistics Hub with World-Class Infrastructure

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                      Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

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                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

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                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

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                      Oman Eyes Boost in Grape Production Through Smart Farming and Model Farms

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                      Oman Launches Integrated Agriculture Hub in Dhofar’s Najd Region

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                      Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                        Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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                        Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                        Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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                        Consumer Electronics Boom Continues Across GCC, Middle East

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                        Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                        Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

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                        Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                        Oman Advances Vision 2040 with 95% of Strategic Programs Underway

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                          Baghdad Metro Project Moves Forward Under New Implementation Strategy

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                          Financing a Greener Environment: How Sustainable Finance is Reshaping the Future

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                          Deal Signed to Build Bahla Cultural Center Facility in Oman

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                          Lebanon’s Cement Deliveries Surge 57% in Q1 2025, Signaling Construction Growth

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                          Iraq Approves 5,000-Unit Housing Project in Basra

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                          AIIB and Arab Fund Establish Partnership to Promote Sustainable Infrastructure

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                          Saudi Arabia’s Construction Market Set to Hit $96 Billion by 2030

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                          New Aerial Images Showcase the Monumental Scale of Baghdad’s $1 Billion+ Landmark Project

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                          Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

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                            Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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                            Oman Seeks Bids for Two Major Substation Projects

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                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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                            Qatar 2025: From Energy Powerhouse to Innovation Leader

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                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

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                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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                              Qatar’s Health Spending Set to Climb 14% by 2029

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                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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                              Qatar and the UK Explore Deeper Cooperation in Healthcare

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                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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                              Daewoong Pharmaceutical Debuts Nabotah Botulinum Toxin in Qatar

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                                Qatar Expands Role as a Leading Global Tourism Destination

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                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

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                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                                Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

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                                Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

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                                Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

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                                Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

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                                  Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                                  Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                                  Packaging Becomes Lifeline for Struggling Print Industry

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                                  Printed Packaging Labels & Release Liners Set for Strong Global Growth

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                                    Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                                    Cisco VP: GCC Must Bridge AI Readiness Gap with Investment in Infrastructure, Skills, and Security

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                                      Iraq Pushes Ahead with Full Infrastructure Rollout for New Al-Sadr City

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                                      GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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                                      Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

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                                      Saudi Arabia Unveils New Unified Road Code to Transform National Transport

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                                      Oman: A Strategic Logistics Hub with World-Class Infrastructure

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                                      Home Business & Economy Economy

                                      Qatar to remain one of the fastest-growing economies in the Middle East

                                      Zawya

                                      January 12, 2016
                                      in Economy, Infrastructure
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                                      Qatar is expected to remain one of the fastest-growing economies in the Middle East on the back of strong investment income and continued government spending on tourism and infrastructure projects despite shrinking energy revenues, analysts said.

                                      The Gulf Arab state, an OPEC oil producer and the world's largest LNG exporter, is arguably one of the most financially secure economies, anchored by long-term liquefied natural gas (LNG) contracts and strong fiscal reserves that provide a cushion against a protracted commodity downturn.

                                      "Despite the oil price shock, real GDP growth in Qatar will likely remain relatively strong over the next two years. The government's fiscal buffers and sizeable assets will sustain public investment, which in turn will support non-hydrocarbon growth," says Steffen Dyck, a VP-senior analyst at Moody's.

                                      Figures from the Qatar central bank highlight that traditional hydrocarbon-related revenues are increasingly balanced by non-oil income sources. Real gross domestic product (GDP) grew 4.8% in the second quarter of 2015, led by the non-hydrocarbon sector which shot up 9.1%.

                                      "We expect average growth of 5% from 2015-17, with upside risks at the later stage if oil prices retrace more than expected," Dauba-Pantanacce, a senior economist with Standard Chartered Bank, said in a report.

                                      The share of investment in GDP edged up to 32.4% in 2014 from 28.6% in 2013 on rising capital spending from the government, and analysts expect that figure to rise in 2015 too.

                                      INFRASTRUCTURE SPENDING

                                      Qatar published its 2016 budget in December which projected a deficit of QAR 46.5 billion (USD 12.8 billion), its first in 15 years. It forecast revenues of QAR 156 billion and expenditures of QAR 202.5 billion, compared with QAR 226 billion and QAR 218.4 billion respectively in the previous budget.

                                      The government asked banks to provide a USD 5.5 billion loan to help reduce its domestic borrowing.

                                      The finance minister said in remarks published by the state news agency QNA that the 2016 budget would maintain spending in key sectors like health, education, infrastructure and transport.

                                      Qatar's estimated spend on physical infrastructure is USD 200 billion between 2014 and 2022. While significant spending is being devoted to prepare for the 2022 World Cup, projects directly related to the event account for less than 10% of the planned total.

                                      Not only do the infrastructure projects satisfy demand for services like transport, healthcare and education, they also add to demand by attracting foreign workers.

                                      "We expect the shares of private consumption and investment to increase on high population growth and strong government investments," Qatar National Bank said in a report in January.

                                      The population could reach 2.8 million by 2018, which would represent a 75% increase in eight years, according to Standard Chartered Bank.

                                      "This would support the housing, financial services, retail, construction and entertainment sectors, although it would also likely put further pressure on the import bill," said Dauba-Pantanacce.

                                      RESTRAINT

                                      The Institute of International Finance said that Qatar's fiscal accounts have been stronger than expected in the 2014/2015 fiscal year, "reflecting expenditure restraint and robust revenues on the back of record investment income."

                                      Based on Brent crude oil price forecast of an average USD 55 per barrel in 2015 and USD 53 in 2016, the government's fiscal surplus would decline to 6.4% of GDP in 2015, from 16.7% in 2014, and would turn into a small deficit of 2.4% of GDP in 2016.

                                      Finance Minister Ali Sherif Al-Emadi recently said that the country's budget break-even price will be lower than the USD 65 per barrel, which was used in the budget for 2015.

                                      There are signs that the government is looking to impose greater discipline on current spending and potentially raising tax revenue. At the margin, this could act as a brake on projected growth rates, but on a longer view might be healthy in that it would tend to ensure a more efficient use of resources.

                                      The prudence is important as Qatar navigates through an uncertain global natural gas demand. The influx of new LNG supplies eyeing the Asian market is a concern for Qatar which is currently the world's largest LNG exporter.

                                      In a move to ensure Qatar keep its favored position in Asia, state-owned Rasgas renegotiated a 25-year contract with Petronet LNG allowing India's biggest gas importer to buy LNG at almost half the original price.

                                      Under the new contract, Rasgas will supply LNG to Petronet at USD 6-7 per million British thermal units (mmBtu) from Jan. 1, sharply lower than USD 12-13 per mmbtu agreed earlier, Reuters quoted the Indian oil minister as saying in December.

                                      Such a move would bring the Qatar-Petronet contract in line with most other oil linked LNG contracts signed over the past five years.
                                      RasGas also waived off a USD 1.5 billion penalty against Petronet for falling short on volume nominations by taking only 68% of its 7.5 million-tons contractual obligation.
                                      Zawya
                                      12 January
                                       

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