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FINANCIAL NEWS
Qatar to drive GCC non-oil growth in 2017-18
03 Jan 2017
(MENAFN) The GCC region’s non-oil growth is predicted to be at 3 percent on average in 2017-2018, while the local non-oil growth will rise from this year to 2018 by 2.5pct to 3.3pct.
Accordingly, spending will stay elevated by historical standards; fiscal deficit will continue to be financed through bond issuance, pushing central government debt to up 50pct of GDP.
Moreover, Qatar’s bank credit and deposit growth are also projected to pick up by 2018 and liquidity constraints will facilitate banks’ reliance of global deposits.
In addition, gross government debt is expected to grow from 60 percent of GDP in 2016 to 68.6 percent of GDP by end of 2018.
M
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