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FINANCIAL NEWS
Qatar’s investment spending accounts for 30.4 percent of GDP in Q2
12 Nov 2014
(MENAFN) According to the Qatari Ministry of Development Planning and Statistics’ (MDPS), Qatar’s investment spending reached 30.4 percent of GDP during the April-June period of this year compared with 27.9 percent during the same period last year, the Peninsula Qatar reported.
The country’s growth in investment spending is attributed to the implementation of major projects in preparation for the FIFA 2022 World Cup, with large scale large scale infrastructure spending as well as population growth expected to contribute in the growth in construction, manufacturing and transportation spending in the future as well.
Meanwhile, Qatar’s non-hydrocarbon GDP grew by 11.3 percent during the second quarter of this year, while the rate of private consumption to GDP rose to 14.5 percent compared with13.9 percent in the corresponding quarter last year.
By the end of September, Qatar’s international reserves increased by USD0.3 billion to reach USD43.8 billion compared to USD39.3 billion at end of September 2013, with the country’s international reserves steady growth over the years being mostly attributed to the large current account surpluses Qatar has.
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