Qatar intends to reduce dependence of oil revenues
Qatar will be able to supplement its budget due to new sources of revenue by 2022, without relying on income from oil and gas exports, Qatari Minister of Economy and Finance Yousuf Hussein Kamal was quoted by Al Jazeera TV channel as saying, Trend news agency reported.
He said that Qatar's natural resources are estimated at $16 trillion and this will be sufficient for the next 100 years.
The minister stressed that the country's economy this year increased by 4.5 per cent amid the world financial crisis. The economy is expected to increase by at least five per cent in 2013.
The inflation in the country in 2012 was two per cent compared to 3.1 per cent in 2011.
At present, the country's oil and gas sector ensures more than 55 per cent of the GDP, about 85 per cent of total exports and 70 per cent of state revenues.
Qatar's proven oil reserves are estimated at 14.5 billion barrels, and natural gas - 17.9 trillion cubic meters.