Our national economy has continued its positive performance amid a volatile global economic environment. Thanks to our rational and balanced policies, we have been able to maintain macroeconomic stability and investors’ confidence in our ability to manage our resources with high efficiency. The Third National Development Strategy (NDS-3) for 2024-30 aims to achieve seven key outcomes covering 16 sectors and eight economic clusters. Indicators reveal promising economic performance, as the Qatari economy maintains its strong pace of growth. It recorded a growth rate of 2.4% in 2024 and a rate of 1.9% year-on-year during the second quarter of 2025. Non-hydrocarbon sectors have supported sustainable development.
Government institutions continue their efforts to turn Qatar National Vision 2030 into a tangible reality, reflecting a firm commitment to achieving comprehensive and sustainable development aspirations. Qatar has made significant leaps in energy, infrastructure, education, healthcare and social welfare, in addition to strengthening its position as an attractive destination for investment in competitive sectors such as technology and tourism. The financial sector has maintained its robustness, supported by the increase in international reserves and foreign-currency liquidity at the Qatar Central Bank by the end of 2024. Qatar’s economic credit rating remained at high levels with global rating agencies. This confirms Qatar’s resilience and attractiveness as a safe and stable investment destination.
Qatar continues to implement a financial policy based on discipline and sustainability by adopting a conservative estimated oil price to ensure realistic revenue and efficient resource management, while prioritising programmes that form the pillars of the NDS-3, especially in the areas of economic diversification, human-capital development and innovation enhancement.
The energy sector has maintained strong growth despite economic and geopolitical challenges, overcoming the effects of regional conflicts while ensuring the continued production and uninterrupted global supply of energy. QatarEnergy continues to implement projects both inside and outside the country. In the field of renewable energy, two solar photovoltaic power plants have been inaugurated in Ras Laffan and Mesaieed — an achievement that reaffirms our firm commitment to environmental sustainability and to continuing the gradual transition towards clean energy.
Economic and human development are inseparable from investment in education, the foundation upon which our renaissance stands and the means by which we shape our future. Human capital is the true wealth of any nation. Therefore, we continue to develop the education and training system, and to prepare our national cadres for the future so that they can be absorbed into the labour market based on competence and achievement. Complementing this process, we aim to attract the best Arab and international expertise to meet the needs of the government and the Qatari labour market.
Qatar is transitioning to a new stage in terms of the scale of its economy and its role. Development at this stage necessitates the elevation of the citizen’s role and awareness of responsibilities. It requires openness to new ideas and keeping pace with scientific, technological and cultural advancement on a global level. The government pays great attention to supporting and stimulating the private sector. In this regard, Qatar Development Bank, alongside other public entities, plays a key role by providing a range of financing, insurance and guarantee programmes. As part of enhancing private sector competitiveness, Qatar is working on a programme aimed at opening investment opportunities in selected projects and assets, creating avenues for the private sector to manage and operate them. This strengthens the attraction of foreign investment and boosts efficiency and spending across vital sectors.
This viewpoint was taken directly from HH Sheikh Tamim bin Hamad Al Thani’s speech delivered at the 54th ordinary session of the Shura Council held in October 2025.
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