Qatar eyes 7 percent economic growth in 2015

15 Mar 2015

(MENAFN) Qatar is set to witness a 7 percent growth in its economy in 2015, marking an increase from the 6 percent of 2014, according to prime minister, Arabian Business reported.

Inflation in 2015 is expected to be 3 percent against 2.7 percent in the year to December. The news came against new laws to give the country’s finance ministry more power over public spending.

The new legislations aim at tightening the nation’s purse strings in response to declining revenues and rising construction costs. It gives the finance ministry the power to rein in overspending and track income and expenditure more effectively.

“The law would boost the efficiency of public spending by tracking income and expenses accurately and continuously,” the Minister of finance said in a statement.

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