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Fastest growing economies

Ghana Many economists believe that Africa is the next boomtown. Several African nations are now growing at a rapid pace. None more so than Ghana. For quite a long time, Ghana received many an unflattering adjectives to describe its economy: 'worst managed', 'disastrous', etc. However, the small African nation has since then come a long way and is the world's fastest growing economy today. Ghana's economy is growing at a blistering 20.15 per cent. Ghana is oil-rich, has large gold and diamond deposits and has a booming tourism industry Qatar With a GDP growth rate of 12.337 per cent, Qatar is the world's second fastest growing economy. The economy of Qatar, one of the world's largest exporters of petroleum, is primarily oil-based. High oil and gas prices have boosted the economy of this Gulf state over the last few years. The per capita income of Qataris is $66,100, the sixth highest in the world. The nation's economy mainly depends on its huge oil and natural gas reserves. There is no income tax in Qatar. Qatar is an oiland gas-rich nation with world's third largest gas reserves Turkmenistan Turkmenistan is blessed with the world's fourth-largest reserves of natural gas. It is the world's third fastest growing nation with a GDP growth rate of 12.18 per cent. It is a $41-billion economy. Although oil and gas is the biggest revenue generator for Turkmenistan, agriculture too accounts for a healthy percentage of its GDP. Citizens in Turkmenistan get 120 litres of petrol free every month for car drivers, while truck/bus drivers get 200 litres of petrol free. Apart from this, electricity too is subsidised for the citizens. China China is the world's fourth fastest growing economy at 9.908% GDP growth rate, and in monetary terms it is of the order of a whopping $6 trillion. However, the rising inflation rates in China are posing a new challenge to the country. China's gross domestic product grew 9.6 per cent in the third quarter as compared to the same period last year. The growth rate slowed down from 11.9 per cent in the first quarter and 10.3 per cent in the second quarter. Liberia Even though Liberia remains one of the poorest countries on earth, it has shown robust economic activity in the last few years. This African nation is the world's fifth fastest growing economy with a GDP growth rate of 9.003 per cent. It is a $1.05 billion economy. The nation has rich reserves of iron ore, and also exports rubber

In the last few years.exports. . better infrastructure and increased economic activity. it has been receiving a lot of foreign direct investment which has resulted in higher employment.