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Article: Is Qatar's economy recession-proof? Ahmed Gad reports from Doha.(BUSINESS AND FINANCE)
- Article from:
- The Middle East
- Article date:
- April 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IN THE WAKE of global financial storms that have threatened the Gulf, Qatar has been lucky for more reasons than just its windfall riches.
Over the past few years, Qatar transferred its rising petrodollar gains into tangible and intangible assets at home and overseas, thus ensuring a more diversified and sustainable economy.
Sitting on the world's largest single gas field, it currently produces around 32m tonnes of natural gas per annum, with plans afoot for it to become the world's largest producer of this fuel of the future. In the current financial turmoil, Qatar, according to some international experts, enjoys greater immunity than the rest of GCC ...