Qatar’s 2012 GDP to fall to 6%

27 Dec 2011

(MENAFN) The International Monetary Fund (IMF) said that next year, Qatar’s gross domestic product (GDP) would be expected to decline to 6 percent, compared with 19 percent expected for the current year, reported Emirates 24/7.

The IMF added that the decline would result from the country’s decision to suspend gas development projects for a period of time, adding that the country also finished major projects to increase output of liquefied natural gas (LNG) to 77 million tons annually, which raised Qatar’s exports of LNG by 15 percent per year over the last decade.

It also said that last year, Qatar’s real GDP jumped by around 17 percent, recording one of the highest levels in the world, and would be expected to surge by nearly 19 percent during the current year.

It is worth noting that in spite of the notable increase in current expenditure and lower than budgeted transfer of investment income from public enterprises, Qatar’s overall fiscal balance continued to record a surplus, reaching 2.7 percent of GDP in 2010/2011.

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