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Qatar’s growth grows sharply at USD35.6b

03 Dec 2016

(MENAFN) NBK had reported that Qatar”s total growth accelerated to 2% year-on-year in 2016, and the country”s non-hydrocarbon sector activity cooled as manufacturing contracted, also gas production is being augmented by the launch of the Barzan facility in 2016.

Accordingly, Inflation went down slightly to 2.2% year-on-year in October while housing and utilities costs continue to ease, and real estate prices dropped by 11% year-on-year in September, affected by a surfeit of housing units and moderating demand.

However, the fiscal deficit widened to USD4.2bn (-11.2 percent of GDP) in 2016 as expenditure growth outpaced revenue growth, and public debt is rising as the authorities issue more bonds for fiscal financing and T-bills for liquidity management.

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