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FINANCIAL NEWS
Qatar’s economic growth to increase by 7.8 in 2016
08 Sep 2014
(MENAFN) Qatar’s economic growth is expected to increase to 7.8 percent in 2016 compared to 6.8 percent this year due to hydrocarbon production growth and the non-hydrocarbon’s sector expansion at a double-digit pace, Gulf Times reported.
This growth is attributed to Qatar starting a new diversification phase, with large investment spending in the non-hydrocarbon sector, which led to accelerated growth in the sector, which reached to 6.5 percent in 2013.
Meanwhile, the share of the non-hydrocarbon sector in the country’s GDP is predicted to grow from 49 percent in 2014 to 57.2 percent by 2016.
However, despite inflation rates slowing since mid-2013, the overall inflation is projected to increase moderately to 3.4 percent in 2014 and 3.5 percent in 2015, mainly because rising rents outweigh lower food prices.
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