Qatar’s sizable oil and natural gas reserves have underpinned its rapid economic growth over the past two decades. Home to the world’s largest non-associated gas field, the country is the world’s fourth-largest producer of dry natural gas and the largest producer of liquefied natural gas, with hydrocarbons revenues forming the bulk of national income as a result. Although the drop in global energy prices has impacted export revenues, rigorous economic diversification drives in recent years have paid dividends, and in 2015 non-hydrocarbons growth reached 7.7%, compared to a 0.1% contraction for hydrocarbons growth during the same period. The country’s financial sector has continued to evolve; Islamic banking in particular has witnessed significant progress. Meanwhile, as the country gears up to host several important sporting events in the coming years, most notably the 2022 FIFA World Cup, numerous big-ticket infrastructure builds continue to expand the construction sector.
This 2015 Article IV Consultation highlights that Qatar is implementing an ambitious diversification strategy, while retaining its systemic role in the global natural gas market. Qatar accounts for one-third of global liquefied natural gas trade and has emerged as an important global financial investor, labor importer, and donor. The authorities are executing a large public infrastructure program to advance economic diversification and prepare for the FIFA 2022 World Cup. The economy has maintained strong growth momentum so far despite the large drop in oil prices since summer 2014. The short-term growth outlook is positive, but lower oil prices will lead to a substantial deterioration of the fiscal and external balances.
This 2015 Article IV Consultation highlights that Qatar is implementing an ambitious diversification strategy, while retaining its systemic role in the global natural gas market. Qatar accounts for one-third of global liquefied natural gas trade and has emerged as an important global financial investor, labor importer, and donor. The authorities are executing a large public infrastructure program to advance economic diversification and prepare for the FIFA 2022 World Cup. The economy has maintained strong growth momentum so far despite the large drop in oil prices since summer 2014. The short-term growth outlook is positive, but lower oil prices will lead to a substantial deterioration of the fiscal and external balances.
Qatar's sizeable oil and natural gas reserves have underpinned its rapid economic growth over the past two decades. Home to the world's largest non-associated gas field, the country is the world's fourth-largest producer of dry natural gas and the largest producer of liquefied natural gas, with hydrocarbons revenues forming the bulk of national income as a result. Although the drop in global energy prices has impacted export revenues, rigorous economic diversification drives in recent years have paid dividends, and in 2015 non-hydrocarbons growth reached 7.7%, compared to a 0.1% contraction for hydrocarbons growth during the same period. The country's financial sector has continued to evolve; Islamic banking in particular has witnessed significant progress. Meanwhile,
Government at a Glance provides readers with a dashboard of key public sector indicators. Each indicator is presented in a user-friendly format, with graphs, brief descriptive analysis, and methodological information.
The principal human rights problems were the inability of citizens to change their government peacefully through free and fair elections, restriction of fundamental civil liberties, and denial of the rights of foreign workers. The monarch-appointed government prohibited organized political parties and restricted civil liberties, including freedoms of speech, press, and assembly and access to a fair trial for persons held under the Protection of Society Law and Combating Terrorism Law. Other continuing human rights concerns included restrictions on the freedoms of religion and movement, as migrant workers could not freely travel abroad. Trafficking in persons, primarily in the domestic worker and labor sectors, was a significant problem. Legal, institutional, and cultural discrimination against women limited their participation in society. The noncitizen "bidoon" (stateless persons) who resided in the country with unresolved legal status experienced social discrimination. The government took limited steps to prosecute those who committed abuses. Impunity existed for government officials.
The OECD Employment Outlook 2015 reviews recent labour market trends and short-term prospects in OECD countries, looking at: recent labour market developments, especially around minimum wages; skills and wage inequality; activation policies and inclusive labour markets; and job quality.
This paper examines the significance and impact of broad-based and industrial policies on economic diversification in developing economies, supported by a literature review, case studies, and IMF analyses. Economic diversification entails shifting from traditional sectors, like agriculture and mining, to a variety of high-quality services and sectors. This transition is crucial for adapting to global market fluctuations and promoting sustainable growth and improved living standards. A literature review, including many IMF contributions, reveals a strong correlation between economic diversification and improved macroeconomic performance in developing countries, such as faster economic growth and higher incomes per capita. Factors influencing economic diversification include macroeconomic stability, infrastructure quality, workforce skills, credit access, regulatory environment, and income equality. Six case studies highlight the experiences of Costa Rica, Gabon, Georgia, India, Senegal, and Vietnam, demonstrating that successful diversification strategies require a long-term commitment and effective broad-based policies. Industrial policies can support diversification by addressing market failures, but they must be well-designed and effectively implemented. Common lessons include the necessity of maintaining macroeconomic stability, investing in human capital, and fostering competition. Sector-specific mechanisms like Special Economic Zones should be used cautiously, emphasizing underlying bottlenecks and minimizing fiscal costs. Country-specific insights include Costa Rica's strategic policy shift towards export orientation, Gabon's reduced dependence on oil, Georgia's market-friendly policies, India's skilled labor and software clusters, Senegal's infrastructure and business environment improvements, and Vietnam's transition from an agrarian to an industrial economy. The IMF's engagement in diversification emphasizes improving human capital, infrastructure, reducing trade barriers, and promoting international trade integration. Policymakers, researchers, and international organizations increasingly recognize the importance of economic diversification for resilient, sustainable, and inclusive growth, requiring nuanced policy interventions tailored to each country's context and capabilities.
This book offers a multifaceted examination of Africa’s development into the post-2015 global agenda from a geographical perspective. As a diversified and highly applied discipline, geography has a lot to offer to global debates, nuanced analysis of problems on and the search for innovative solutions to advance the African development agenda beyond 2015. The end of the Millennium Development Goals (MDGs) era and the launch of the Sustainable Development Goals (SDGs) in September 2015 mark an important turning point for Africa and an opportune time to examine new challenges and opportunities that it faces. The regional disparities in MDG progress affirm an important geographic tenet that the unique yet internally differentiated socio-cultural, economic, political, ecological, biophysical and historical context give Africa distinctive challenges and opportunities that demand particular approaches to development. This edited book presents innovative contributions examining Africa’s development performance in diverse sectors during the MDG era as a basis for understanding prospects for its development in the SDG era and beyond. It offers new and innovative study perspectives and methodological approaches on urban transformation, development financing, food security, climate change, gender equality, health, and regional integration, among other topics, and useful insights for scholars, students and development practitioners. This book was originally published as a special issue of African Geographical Review, the journal of the American Association of Geographers’ Africa Specialty Group, to mark the transition from MDGs to SDGs.
