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FINANCIAL NEWS
Qatar’s economy grows 4.7 percent in Q2
11 Oct 2015
(MENAFN) Growth in the Qatari economy accelerated in the second quarter of 2015, with Real GDP growing by 4.7 percent year-on-year, compared with 4.0 percent for the same period of 2014.
This indicates low inflation and large external surpluses. As a result, and with new gas production expected to come online, growth is expected to continue to accelerate to 6.4 percent in 2016-17.
The non-hydrocarbon sector continues to be the main driver of economic growth. It expanded by 9.1 percent on-year in the second quarter of 2015, the Ministry of Development Planning and Statistics (MDPS) said.
The largest contributors to real non-hydrocarbon growth were financial services, construction and trade, hotels and restaurants. Construction activity grew by 19.7 percent reflecting the ongoing infrastructure projects.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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