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FINANCIAL NEWS
Qatar’s 2011 real GDP up by 19%: IMF
11 Mar 2012
(MENAFN) The International Monetary Fund (IMF) said that Qatar’s real gross domestic product (GDP) growth is estimated to have expanded by 19 percent in 2011, reported Arab News.
The IMF added that the growth was driven by a 36 percent surge in liquefied natural gas (LNG) production.
On the other hand, it said that the non-hydrocarbon sector grew 9 percent in the year, and would be expected to remain the same in 2012.
Moreover, credit growth increased 28 percent, driven by public sector lending which hiked by 45 percent and represented 40 percent of total loans.
It is worth noting that in 2011, Qatar’s current account represented 32.6 percent of GDP, whereas fiscal surpluses represented 7.2 percent of GDP.
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