(MENAFN) The Qatari Minister of Finance emphasized that the country will continue to see growth, but stressed that it will look to rely more on the private sector.
Despite Qatar's reliance on oil, HE the Minister said that the country aims to move towards a knowledge-based economy, he said at an event on the progress of the Qatari economy in the past 20 years.
Qatar succeeded in establishing strong growth over the past 20 years. In 1995, GDP was USD8 billion. It has grown to USD162 billion in 2005. By 2014 the economy has grown 26 times compared to 1995.
As for the budget, HE the Minister noted that it was at USD4 billion back in 1995. It has grown to USD300 billion last year, noting that World Cup 2022 requires investments worth USD200 billion from 2014-2022.
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