Despite the global financial crisis, Qatar has maintained its economic growth of the last several years. Qatari authorities throughout the crisis sought to protect the local banking sector with direct investments into domestic banks. The drop in oil prices in late 2008 and the global financial crisis reduced Qatar's budget surplus and slowed the pace of investment and development projects in 2009, but GDP growth still registered more than 9% for the year and will likely rebound in 2010. Economic policy is focused on developing Qatar's nonassociated natural gas reserves and increasing private and foreign investment in non-energy sectors, but oil and gas still account for more than 50% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas have made Qatar the second highest per-capita income country - following Liechtenstein - and the world's second fastest growing - following Macau. Proved oil reserves of 15 billion barrels should enable continued output at current levels for 37 years. Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, about 14% of the world total and third largest in the world....  More..