In a couple of weeks Qatar is entering second year of unjust siege imposed on this great nation by some countries, which are contrary to all international conventions, laws and norms. The siege countries tried their level best to succumb the enthusiasm of this nation and its people with all kinds pressure tactics.
Amid all these hurdles, Qatar managed to achieve great heights during this last one year in many spheres. The recent report of Qatar ranking fifth in economic performance in the world in the IMD World Competitiveness Yearbook 2018 is one such example. It’s a great news for a nation that successfully mobilised all its energies of citizens and residents alike to innovate and find alternatives to overcome all difficulties in a short span of time after the unjust siege.
It’s not a surprise that Qatar is improving its ranking every year. Qatar has improved three places from last year. It was ranked 14 in 2018 out of 63 countries, mostly high-income nations, compared to 17th in 2017. The country has ranked 10th in government efficiency, 13th in business efficiency and 38 in the infrastructure sector. This ranking has been positively influenced by many factors including strong economic performances such as Qatar’s low unemployment rate, the high percentage of gross fixed capital formation (capital investments) and saving to GDP, the high percentage of trade balance to GDP, and the high level of overall productivity.
Welcoming the findings of the report, Minister of Development Planning and Statistics, H E Dr Saleh bin Mohammed Al Nabit, said, “These results confirm that our overall performance is solid, and they will certainly help us to identify those areas where we need to consolidate gains and make further improvements”.
The report said that this year’s assessment confirms Qatar’s strong performance across various fields. The evaluation is based on a range of statistical indicators collected from different local and international statistical sources, as well as from opinions collected via surveys distributed to more than 200 local business leaders.
Qatar’s economy will continue to be resilient against the blockade. With more economic indicators are pointing towards a brighter future, the economy is poised to continue as one of the fastest growing in the region with a projected 3.4 percent growth in 2018. And the growth momentum is expected to pick up to a 3.9 percent mark in 2019.
All these efforts show that Qatar is moving up the ladder, despite the current crisis that has strengthened the values of solidarity and cohesion between citizens and expatriates in the face of unjust measures taken by some countries.
