By K T Chacko
News Editor
Qatar’s economy will grow by 9% this fiscal year and a remarkable 16% in the next as a result of the successful steps taken by the government to deal with the global financial crisis, HH the Emir Sheikh Hamad bin Khalifa al-Thani said yesterday.
The Qatari fiscal year starts in April.
Despite the economic boom, Qatari consumer prices fell rapidly this year because of constant state monitoring of market prices and other measures, the Emir said in his inaugural address to the 38th ordinary session of the Advisory Council.
“The stability of the economic performance of the state and the continuation of price control in the market by the government have positively contributed to stabilising prices, maintaining the living standards of the people.”
Qatar’s consumer price index fell 1.51% in the third quarter from the previous quarter, extending its decline, data from the country’s statistics authority showed yesterday.
The Emir hailed the contribution of the Advisory Council in achieving the goal of comprehensive development of the country and its citizens.
He underlined that the Qatari citizen “has always been our top priority” and the state strived “to secure a decent livelihood for him, out of our belief that comprehensive and sustainable development is basically attainable through investment in human development”.
The Emir listed the establishment of the Supreme Council of Health, Supreme Education Council, Qatar Foundation for Education, Science, and Community Development and the restructuring of the Supreme Council for Family Affairs as some of the major steps taken in this regard. The state, he said, had also invested wisely in advanced research programmes.
Speaking about Qatar’s economic policy, the Emir said sustainable development, promotion of national economy and diversifying its sources were its top priorities.
“After almost two decades of persistent, intensive efforts of developing our gas reserves, Qatar has become, by the grace of Allah, a leading country in the gas industry and the leading LNG exporter and transporter.”
On Qatar’s foreign policy, the Emir said it was aimed at deepening the bonds and co-operation with all countries and people, on the principles of peaceful co-existence, mutual respect and promotion of joint interests, “as well as the effective participation in the causes and concerns of our Arab and Islamic nations”.
The Emir called for strengthening Arab solidarity to meet the challenges encountering “our Arab nation”.
He reiterated Qatar’s support for the legitimate struggle of the Palestinian people and said peace was not possible without doing justice to them.
Expressing concern over the developments in Iraq, the Emir called on major forces therein to work together to reach conciliation. He also hoped stability would soon return to Yemen, Somalia and Darfur.
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