Economy

Following a challenging 2016, when the price of Brent Crude dipped briefly below $30 per barrel and governments across the GCC were compelled to significantly adjust their fiscal plans, 2017 has brought the region some respite – both to current accounts and the wider economy. Qatar remained better insulated from the effects of oil price volatility than most countries in the Gulf, owing chiefly to the unintended countercyclical effects of its infrastructure investment boom. Nonetheless, a return of oil prices to above $50 per barrel will certainly reduce strain on the economy, which was beginning to experience tightening in liquidity. Stronger energy prices will provide the government with a positive platform for the launch of its new six-year strategic plan, which will aim to further deliver on the economic diversification mandated by Qatar National Vision 2030.

This chapter contains an interview with Sheikh Ahmed bin Jassim bin Mohammed Al Thani, Minister of Economy and Commerce, and Vice-Chairperson, Qatar Investment Authority; and Abdulaziz bin Nasser Al Khalifa, CEO, Qatar Development Bank.