Qatar plans to spend over $125bn in 2011-2016

* Plan includes construction, infrastructure, hydrocarbons

* Economy seen growing at double digits in 2011

DOHA/DUBAI: Qatar plans to spend over $125 billion in the next five years on construction and hydrocarbon-related projects, the OPEC member's new national development strategy showed on Monday. The economy of the world's top liquefied natural gas exporter should expand by 15.7 percent this year before slowing down to 7.1 percent in 2012, according to a baseline scenario in the document, which outlines Qatari plans for 2011-2016.

"This year, it (economic growth) is going to be very high, next year it will be less, but still in double digits," the emir's economic adviser Ibrahim al-Ibrahim told reporters.

"That (7.1 percent in 2012) projection was based on a price of oil that is now higher. The impact of the expansion in oil, and especially gas has not been felt in the economy yet," said Ibrahim, secretary general at the General Secretariat for Development and Planning.

Qatar's central bank governor said last week the Gulf Arab country's economy should grow by 18 percent this year, one of the fastest rates in the world.

Analysts polled by Reuters in March put the real GDP growth forecast at 15.8 percent for this year and 8.0 percent for 2012 after an estimated 16.2 percent in 2010. The government scenario is based on average oil prices of $86 per barrel. Crude prices have climbed to their highest levels since September 2008 as public unrest has swept through the Arab world, with benchmark US crude near $105 per barrel on Monday.

Cash-rich Qatar plans to invest over 130 billion riyals ($35.7 billion) in 2011-2016 through its state-linked companies, including about 100 billion riyals by Barwa and Qatar Diar for residential and business construction projects.

Qatar Petroleum and its units should spend a further 88 billion riyals, while state infrastructure spending will amount to over $67 billion including roads, port, power and water, the document showed.

"For Qatar Petroleum and related companies, 2010 was a pivotal year when a series of liquefied natural gas projects culminated. Nevertheless, investments will remain relatively strong over the medium term," the document said.

"Significant additional investments in the gas sector will await decisions on the moratorium (on further expanding its gas sector), which will not occur before 2015," it said.

Gross investment spending in Qatar, a top global investor through its sovereign wealth fund, should average 25 percent of GDP over the next five years with fiscal surpluses seen falling to 5.7 percent of GDP in 2016 from 12.1 percent this year.