GOVERNMENT MINISTRIES
 

Diwan Amiri H.H. The Amir of the State of Qatar

                Tel: 438 8888 -  PO Box 923, Doha

Ministry of Civil Service Affairs and Housing

                Tel: 484 1111, Fax: 484 1000 - PO Box 22228, Doha

Ministry of Defence

                Tel: 461 4111 Fax: 432 4743 - PO Box 37, Doha

Ministry of Economy & Commerce

                Tel: 494 5555 Fax: 441 1112 - PO Box 37, Doha

Ministry of Education & Culture

                Tel: 494 1111, Fax: 441 3960 - PO Box 80, Doha

Ministry of AWQAF & Islamic Affairs

                Tel: 447 0777, Fax: 432 7383 - PO Box 422, Doha

Ministry of Energy & Industry

                Tel: 484 6444 Fax: 483 2024 - PO Box 2599, Doha

Ministry of Finance

                Tel: 448 1444, Fax: 441 4418 - PO Box 83, Doha

Ministry of Foreign Affairs

                Tel: 433 4334, Fax: 444 8475 -  PO Box 250, Doha

Ministry of Interior

                Tel: 433 0000  Fax: 444 3750 - PO Box 290, Doha

Ministry of Justice

                Tel: 484 2222, Fax: 483 2868 - PO Box 4696, Doha

Ministry of Municipal Affairs & Agriculture

                Tel: 433 6336, Fax: 441 3849 - PO Box 2727, Doha

Ministry of Public Health

                Tel: 446 8468 - Fax: 436 1468 - PO Box 42, Doha

Hamad Medical Corporation

                Tel: 439 2222 - Fax: 441 7081 - PO Box 3050, Doha

Radio & Television Corporation

                Tel: 485 9555 - Fax: 483 1518

Qatar General Electricity & Water Corporation

                Tel: 484 5555 - Fax: 484 5500

ECONOMIC PERFORMANCE

STRONG FOOTING

Qatar’s economic performance remains stellar, supported by strong hydrocarbon prices and prudent government policies. After strong growth over the last few years, the economic expansion remains buoyant. Recently released official data indicates that nominal GDP growth expanded by 33.8% in 2005. The phenomenal nominal growth rate reflects the continued increases in hydrocarbon revenues, especially with regards to increasing prices. Importantly, the non-hydrocarbon sector’s growth also remained strong at 18.8%, although this was a marked slowdown from the previous year due to the high base effect.

Economical Growth
With regards to real GDP, the growth rate slowed, albeit still remaining very respectable at 6.1% in 2005. This was a result of a slowdown in the rate of increase in hydrocarbon output and the high GDP deflator partly due to the increasing oil prices. In 2005, Qatar’s crude oil production increased by 2.6%, compared to a 46.9% increase in the price of Qatari crude. Indeed, the oil deflator jumped from 131.7 in 2004 to 191.7 in 2005 due to the sustained rise in the price of oil.

Nominal GDP growth expanded by 31.0% y/y in Q2, with the average price of Qatar’s crude increased by 29.1% to USD 63.0p/b in H1 2006. Although, the oil price increase will again be removed from the real GDP growth forecast, increased production of gas, and to a lesser degree oil, will result in a strong real growth rate. Liquefied natural gas (LNG) exports are forecast to reach 25.0m tonnes in 2006, compared with 22.9m in the previous year.

Moreover, non-oil sector growth accelerated in 2006, driven by higher government expenditure and investment, driving demand in the economy. Government spending is slated to increase in 2007. Meanwhile, public project and infrastructure spending will increase by 70.5% to QAR 20bn.

After huge investments, many projects are entering the execution phase. Earlier in 2006, Qatar became the global largest exporter of LNG, surpassing Indonesia. Going forward, there will particularly be large increased in LNG production in 2007, with the completion of the 5th train of RasGas II, followed by the commissioning of the 1st train of Qatargas II at the end of the year. Owing to the higher gas production in 2007, real GDP is forecast to accelerate to 8.3%.

Qatar has been looking to invest its surpluses into overseas companies (in both Europe and Asia). Investments overseas have been an area that Qatar has traditionally been behind the other Gulf States, given the emphasis on internal development. Widening the investment base will add greater robustness to the economy and investment income, as they provide an extra level of diversification into economies with different drivers to growth and cycles. Furthermore, it is a tool to tap into strong economic performances in other regions and important as they help to support the government’s fiscal position, expenditure and consequently GDP growth at times of lower oil prices.

Meanwhile, the central bank is also looking to diversify its reserves. This is aimed to limit the impact of the weakening of the US dollar against other major currencies on the value of its reserves.

There have been some growing pains linked with the strong performance of the economy. The large influx of expatriates has resulted in a shortage of housing and increased rental costs. Furthermore, the costs of building materials have also been increasing with the strong demand and shortages in products such as cement. As a result, inflationary pressure has been rising, increasing the cost of projects. However, increasing export volumes mentioned above and continued investment will result in Qatar being the region’s fastest growing and richest economy.