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Qatar is the wealthiest country in Middle East
As per a report by the International Bank of Qatar (IBQ), Qatar has been projected to become the richest country in the world, in terms of GDP (Gross Domestic Product) per capita income, which has been estimated to be $76,000 last year.
There is a considerable increase in per capita from the $27000 in 2001, with the increasing benefits that the country has been drawing from the demand for oil and gas. Qatar is now considered to be the wealthiest country in the Middle East, states the report.
Qatar, despite its size, has one of the most exciting and prospective hydrocarbon sectors in the world, and being the source of 14 percent of the world’s proven natural gas reserves with 15bn barrels of crude oil. The massive investment programme, which quadrupled the natural gas output during the last decade, made Qatar the world’s largest producer and exporter of liquefied natural gas (LNG).
The economic report by IBQ emphasizes the growth rate in Qatari economy, which is currently, one of the highest in the world. Under the active guidance by the Emir, H H Sheikh Hamad bin Khalifa Al Thani, it has been demonstrated that the government of Qatar is central to the impressive economic performance of the country, and commits itself to an aggressive investment programme of $160bn in projects across major sectors of the economy.
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