Qatar economy continues significant QNV 2030-steered milestones

Doha:Qatar s economy has achieved significant multi sector milestones steered by the Qatar National Vision 2030, with the Gulf state remarkably transf...

Doha: Qatar's economy has achieved significant multi-sector milestones steered by the Qatar National Vision 2030, with the Gulf state remarkably transforming from a predominantly hydrocarbon-based economy into a diversified and knowledge-based one.

An International Monetary Fund (IMF)'s outlook for Qatar says the country would see a two- percent 2024-25 real GDP growth, driven by "public investment, spillovers from the ongoing LNG expansion project, and strong tourism".

The final statement for the IMF's Article IV consultation mission in Qatar projected a medium-term annual growth of about 4.75 percent, supported by the significant North Field expansion project, totaling the countrys annual LNG production to 142 million tons per annum (mtpa) and the Third National Development Strategy (NDS-3).

This growth is manifested across all Qatar's dynamic economic sectors, especially in energy, with the latter achieving oil, gas and petrochemical milestones both locally and abroad. QatarEnergy plays a leading role in optimally investing the countrys natural resources of oil and gas, in accordance with the QNV 2030.

Besides the North Field LNG expansion project, the energy giant is also in partnership with ExxonMobil for the Golden Pass LNG export terminal on the US Gulf Coast near Sabine Pass, Texas, with annual capacity of 18 mtpa.