Mubasher: Global Competitiveness Report 2015-2016 showed that Qatar has moved up two spots to come in the 14th place, the highest ranking in the Middle East and North Africa region.
The ranking reflects Qatar’s stable macroeconomic environment, which is mainly attributed to public budget surpluses and low government debt due to high windfall revenues from energy exports, according to the report.
The report showed that the recent decline of oil and gas prices may undermine the country’s performance in future.
The country has additional strengths including high efficiency in goods and services markets and high level of physical security.
Qatar has to invest its exceptional wealth in the innovation and transfer of technology to maintain its strong position, the report said, adding that the country should know how to translate into future economic growth.
The imports, standing at 30.77% of GDP, promote the internal trade and investment which could contribute to bringing in new technologies.
