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IMF says Qatar’s 2011 GDP growth at 19%

02 Feb 2012

(MENAFN) The International Monetary Fund (IMF) said that in 2011, Qatar’s economy expanded at 19 percent, compared with 17 percent in the previous year, reported Gulf News.

The IMF added that real gross domestic product (GDP) growth rate in 2012 would be expected to moderate to 6 percent; with real hydrocarbon GDP falling to 3 percent, since output of liquefied natural gas (LNG) would stay stable due to the self-imposed moratorium on new hydrocarbon projects.

It also said that non-hydrocarbon sector would be forecasted to grow by 9 percent, driven by manufacturing, financial services, and trade and hotels.

It is worth noting that throughout the medium term, Qatar’s fiscal and external accounts are forecasted to remain in surplus, as oil prices are expected to stay high, according to the IMF.

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