Economic growth outside the oil and gas sectors, as well as the country’s infrastructure investments, mean Qatar’s medium-term economic outlook remains positive, the finance minister has said.

Speaking at an insurance conference today in Qatar, Ali Shareef Al Emadi said the country is pursuing a “balanced” policy of increasing the efficiency of government spending. He did not address last week’s report by Moody’s, which warned the agency may downgrade Qatar’s credit rating given its reliance on oil and gas revenues.