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Over the past five years the US economy has slowed, with its average 0.5 per cent growth in 2007 nearing the recession line.
But with the GCCs current account surplus touching $750bn in 2007, many economists believe that the region is more or less isolated from a world recession shock.
'And Qatar is not a poor country playing catch up. It's a rich country that's growing - which is more impressive. Yes the US slowdown will have an affect on Qatar, but not to that extent," said Marios Maratheftis, Head of Research of the Middle East, North Africa & Pakistan at Standard Chartered Bank.
See also:
Qatar must address inflation to sustain growth
But with the GCCs current account surplus touching $750bn in 2007, many economists believe that the region is more or less isolated from a world recession shock.
'And Qatar is not a poor country playing catch up. It's a rich country that's growing - which is more impressive. Yes the US slowdown will have an affect on Qatar, but not to that extent," said Marios Maratheftis, Head of Research of the Middle East, North Africa & Pakistan at Standard Chartered Bank.
See also:
Qatar must address inflation to sustain growth
Amena Bakr, Senior Reporter
