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FINANCIAL NEWS
Qatar’s 2013 real GDP growth to decelerate to 4.5%
13 Jul 2012
(MENAFN) Qatar’s General Secretariat for Development Planning’s (GSDP) secretary general, Dr Saleh Al Nabit, stated that during the coming year, the country’s real gross domestic product (GDP) is expected to slow to 4.5 percent from 6.2 percent forecasted for 2012, reported Arabian Business.
Al Nabit attributed the contraction to a decline in hydrocarbon output rates.
However, non-hydrocarbon sectors, mainly manufacturing, petrochemical and construction will drive growth in the coming 2 years, with construction expanding at an average of 10 percent over the mentioned period.
Moreover, during this year, Qatar is forecasted to post a surplus of 7.8 percent of nominal GDP, whereas in 2013, the surplus will decline to 4.8 percent of nominal GDP.
It is worth noting that the world’s largest exporter of liquefied natural gas (LNG) is forecasted to spend 10 percent of its GDP or USD35 billion on infrastructure and total project disbursements in the near term.
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