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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