Doha unscathed by downturn: PM
He’s the prime minister. I guess I am wrong. I thought I saw a lot of constructions at a stand still. It looked to me like the population of laborers has dropped. People are slipping away, expat management level workers, being let go, heading home. There are some empty units on our highly-sought after compound. Few people at Villagio are carrying shopping bags; most of the bags leaving City Center appear to be Carrefour groceries or Home Center: on sale. Rents are dropping.
It looks to me like something is dragging on the Qatar economy, it looks to me like there may be some empty seats on flights in and out. But I must be wrong.
You can read the entire article by clicking on the blue type below, which will take you to the article in The Peninsula.
Doha unscathed by downturn: PM
Web posted at: 12/8/2009 2:8:12
Source ::: The Peninsula
By Nasser al Harthy
DOHA: The global economic downturn has not affected any of Qatar’s projects, Prime Minister and Foreign Minister, H E Sheikh Hamad bin Jassem bin Jabor Al Thani, said here yesterday.
Addressing the opening of the fourth edition of the International Petroleum Technology Conference (IPTC), Sheikh Hamad Bin Jassem said: “We, in Qatar have overcome the consequences of the crisis with minimum damages and that the crisis has not affected any of our projects being implemented, whether in the oil sector, gas sector or development and infrastructure projects undertaken by other state sectors.”
“We are moving forward with full determination to implement all our ambitious plans which focus on sustainable development in which oil, gas and industry play a basic role and constitute one of its strong pillars,” he added.
The Prime Minister noted that the world economy passed through a difficult period of recession last year leading to a sharp drop in oil and gas consumption in world markets and energy prices in general.
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It’s all media talk! No gulf country has survived the downturn unscathed.
LOL, Kinan, it is the same in every country. Why do politicians say these things? ? I suspect they are trying to create a different reality, but to say something that is so easily contradicted . . . I don’t get it! He could have said “Qatar has escaped RELATIVELY unscathed” and no one would have blinked an eye. Qatar has done well, but unscathed . . . I think not.
hehehe, it is funny and nonsensical at best. The fact remains that the current financial crisis is a result of a dramatic slump in investors’ confidence in markets. And now that Dubai has created a new wave of hysteria around its debt, people are less confident even more. That’s why politicians come out and say stuff like that to reassure the public that their economy is still trustworthy.