Economy

Having ended 2011 on a high, with its economy growing at break-neck speed, inflation under control and a stepped-up programme of infrastructure investments being rolled out, Qatar is well placed to continue similar growth this year. Yet with the spectre of recession hanging heavy in the air in Europe, and a scaling back of expectations in some major Asian economies, the country may find that in 2012 many of its achievements are consolidated rather than eclipsed.

Sarawak’s economy thrived in 2011, with record inflows of investment and a revving of the state’s growth engines sparked by projects such as the Bakun Dam and the Sarawak Corridor of Renewable Energy (SCORE).

Key elements of Abu Dhabi’s economic diversification programme, including the development of the emirate’s manufacturing base, are moving ahead as planned, with the government reiterating its commitment to encourage investment and diversification.

L’économie marocaine a continué à afficher de bons résultats au troisième trimestre 2011, avec une croissance légèrement moins soutenue qu’aux trimestres précédents mais dépassant tout de même de loin ses voisins européens au nord. L’inflation s’est également établie à un niveau très bas ces derniers mois.

A $1.66bn stimulus plan announced earlier this autumn is expected to stimulate domestic demand in the Philippines as effects from the ongoing global economic turbulence continue to impact the country’s economy. The programme is designed to make up for government underspending that many claim has led to lower-than-expected growth in the first half of 2011, but ensuring that the money is spent in a timely and efficient manner may be a challenge.

It has been an eventful year for Sabah, characterised by growing streams of investment flowing into the state, enhanced economic cooperation, improved trade relations and several significant offshore oil discoveries, including one announced in November by the national oil corporation, Petronas.