The Middle East Economy

2010 was a banner year for Qatar. The nation punched well above its weight over the course of the year and looks set to continue to make headlines in 2011 and beyond.

The year 2010 will be remembered in Abu Dhabi for the local government forging ahead with a counter-cyclical spending regime aimed at boosting the economy and buttressing the Economic Vision 2030.

Jordan’s new government has committed to strengthening the economy while also reducing debt levels, though at least to some degree its success or failure will depend on the health of regional and global economies.

Qatar is ratcheting up its campaign to host the 2022 World Cup as the race nears an end. With a decision due on December 2, boosts have come in the shape of a successful staging of a friendly match between South American footballing giants, praise for the emirate’s green credentials and vocal support from none other than Manchester United manager Sir Alex Ferguson.

Recent reports from the IMF and Qatari authorities confirm that Qatar is on track to be the fastest-growing economy in the Middle East, and may be among the fastest in the world.

While this year has seen several stories in the Western media about Turkey's "turn east", the country’s efforts to maintain positive trade relations with Iran despite recent sanctions on its nuclear programme are likely more pragmatic than political.