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FINANCIAL NEWS
Qatar’s GDP seen up 6.9% in Q1, helped by construction
02 Jul 2012
(MENAFN) Qatar’s Statistics Authority said that Qatar’s economy rose by 6.9 percent year-on-year in inflation-adjusted terms during the first quarter of 2012, driven by a boom in the construction sector, Gulf Daily News reported.
Construction, currently booming in preparation for the 2022 World Cup soccer tournament, saw output rising 6.1 percent year-on-year.
The authority was also quoted as saying that the world’s top liquefied natural gas (LNG) exporter saw a three percent growth in the quarter compared with the last quarter of 2011.
Last month, the authority expected GDP to expand by only 4.5 percent in 2013, recording the weakest rate in a decade, as a grim global growth outlook and the euro zone debt crisis drags oil prices down.
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