Qatar

The Qatari government must give more support to small- and medium-sized enterprises, according to a United Nations Development Programme report.

According to a recent economic report compiled by the International Bank of Qatar (IBQ) and its partner National Bank of Kuwait (NBK), Qatar's economy, the fastest growing in the Middle East in terms of nominal gross domestic product (GDP), is expected to see the pace of growth sustained at high levels over the next five years and as a result, its economy could double in size by 2012.

Qatar, the biggest exporter of liquefied natural gas (LNG) in the Middle East, now leads the world in LNG exports.

Qatar's booming real estate sector is set to have its own bank. Plans to establish a real estate bank were announced recently.

Qatar's inflation rate has hit a new record high of 15% in the first quarter of 2007, with increases in rent, fuel and energy prices being the main cause.

In its quest to diversify Qatar's economy, the government continues to introduce international regulatory standards for its financial services sector.