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FINANCIAL NEWS
Qatar’s GDP to grow to 7.8 percent in 2014-16
27 Sep 2014
(MENAFN) Qatar’s overall GDP is forecasted to grow to 7.8 percent during 2014-16, while the non-hydrocarbon share to GDP is set to hit 57.2 percent by 2016, The Peninsula Qatar reported.
The expected growth in GDP is mainly attributed to large investments in construction, services and transport sectors, QNB Group’s Qatar Economic Update showed.
On the other hand, the country’s current account surplus is projected to narrow over the medium-term on lower oil prices, with the fixed exchange rate to the US dollar.
“This is obviously great news for Qatar and we have felt the increase in activity and expansion of the non-hydrocarbon sector,” QNB Doha Managing Partner of Law Firm Eversheds said.
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