Qatar Research Project
First of all, thanks for reading my message. I'm doing an international economics project for school. There are a few questions I have regarding Qatar, and I can't find the answer anywhere.
- What kind of economic system does Qatar have?
- What's the cost of a McDonald's Big Mac in riyals?
- The highest or average income tax rate?
- How much does a liter of gasoline cost?
Thanks for the help.
Shannon
Broadly speaking, Qatar's is a market economy, with some restrictions in place, including for example a pegged currency, restrictions on foreign property ownership, and some import restrictions. Qatar's economy currently doing well, owing almost entirely to strong oil and gas revenues. However, because the riyal is pegged to the US dollar, the government can exert relatively little control over monetary policy. this means they cannot easily contol interest rates. This is why interest rates in Qatar are currently quite low (they should be a bit higher given current rates of economic growth). this, in turn, is driving inflation. the low interest rates mean that borrowing money is quite cheap, so there is a lot of cash sloshing around the system at the moment. this is referred to 'excess liquity'.
there is no income tax for individuals, but corporate tax rates are around 35%. however, there are plenty of tax-breaks that mean corporations can avoid taxes if they meet certain conditions.
hope this helps.
This was just in the paper today regarding the economy -
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=138478&version=1&template_id=57&parent_id=56
Sometimes these Gulf Times links don't work so if it doesn't, the article is on the front page of the website today and is titled "Double-digit growth seen until 2012."
Hope this helps some.
In this regard, I think, as Shannon was at R&R at the US Army base, they will not have these details.
Rest and Recreation (R&R), have a tour of the city etc etc. Meals on the base. & I think in-house they have Burger King, Chillies, Pizza Inn, Subway, a coffee shop (don't remember the name).
Very robust economy as per the papers.
Qrs.16.00 (I think, give or take Qr.1/-)
No income tax for individual (yet)
Qr.0.70 for 97 octane
$1 = Qr.3.64
Are you kidding? if you in qatar now then you should have the figures.