Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Development Planning Ministry Revises Up Qatar Economic Outlook  Join our daily free Newsletter

MENAFN - Qatar News Agency - 17/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Qatar News Agency) The Ministry of Development Planning and Statistics (MDPS) released on Monday the Update of the Qatar Economic Outlook 2013-2014, which reiterates the broadly favourable outlook provided by the Ministry in last June's release of the Outlook.

According to an MDPS press release, the forecast of real GDP growth in 2013 has been revised up to 6%, with growth in 2014 expected to hold steady at 4.6%

The upward revision to 2013's growth forecast reflects unforeseen expansion in gas production as well as some revisions to historical data. Nevertheless, services will stay the main driver of growth in 2013

In 2014, growth will continue to pivot around Qatar's expanding non-hydrocarbon economy. Vigorous investment in infrastructure and real estate, sizeable fiscal spending and steep population growth are poised to sustain momentum

Marginal declines in oil production are likely, with gas production having levelled out. HE the Minister of Development Planning and Statistics Dr

Saleh Al Nabit commented that "the overall economy is set to expand during the foreseeable future, at a time when the profile of the non-oil and gas economy will continue to become more pronounced". Dr

Saleh went n to note that while population growth and fiscal spending were stoking growth, new business opportunities were also being carved out in areas such as financial services, transport and communications, and tourism. The Update expects moderate inflation in 2014 of 3.5%, a little higher than the 3.2% projected for 2013


Measures to curb abuses of market power in local consumer markets are expected to help keep price rises in check, and imported inflation is seen low. Upward pressure on residential rentals is likely, but may soften. And although rising material costs will exert upward pressure on project costs, the impact is unlikely to spill over into consumer prices. The government's fiscal position will remain solid, with an overall surplus projected in both 2013 and 2014. However, the surplus is likely to nudge down in 2014 as capital spending, related to the country's infrastructure programme, ramps up. Dr Saleh observed that, "while a robust outlook for oil prices is central to our forecasts, we see downside risks as remote and this means that we fully expect to maintain adequate fiscal space in the upcoming years." Qatar's external position will remain healthy. A current account surplus of close to 23% of GDP is pencilled in for 2014.

 


Qatar News Agency




  MENA News Headlines
 May 26 2016 - Saudi- Living cost index in the Kingdom rises 0.2% in AprilSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- The index of the cost of living in the Kingdom rose by 0.2% during the month of April 2016 compared to the previous month ...

 May 26 2016 - Governor of Riyadh Region receives Cyprus' AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh region, received here today the Ambassador of Cyprus to the ...

 May 26 2016 - Israeli warplanes launch raids on Gaza StripSaudi Press Agency
(MENAFN - Saudi Press Agency) Ramallah, 19 Sha'ban, 1437, May 26, 2016, SPA -- Israeli warplanes launched today a series of air raids on sites and targets in the Gaza Strip. Local security sources ...

 May 26 2016 - Saudi- Three dead, many injured in Mumbai chemical factory blastSaudi Press Agency
(MENAFN - Saudi Press Agency) New Delhi, Sha'ban 19, 1437, May 26, 2016, SPA -- At least three people have died and several have been injured in a huge blast at a chemical factory on the outskirts ...

 May 26 2016 - Turkmenistan's Deputy Prime Minister and Foreign Minister receives Member of Saudi Council of Economic Affairs and DevelopmentSaudi Press Agency
(MENAFN - Saudi Press Agency) Ashgabat, 19 Sha'ban, 1437,May 26, 2016, SPA --Deputy Prime Minister and Foreign Minister of Turkmenistan Rasit Meredow has received in the Turkmen capital, Ashgabat, ...

 May 26 2016 - Saudi Ambassador meets Algerian officialsSaudi Press Agency
(MENAFN - Saudi Press Agency) Algiers, 19 Sha'ban,1437 AH, 26 May,2016 , SPA - Saudi Ambassador in Algeria Dr. Sami bin Abdullah Al-Saleh visited here today the Governor of Algerian capital, Abdul ...

 May 26 2016 - Turkish flight to London makes emergency landing in BelgradeSaudi Press Agency
(MENAFN - Saudi Press Agency) BELGRADE, Serbia, Sha'ban 19, 1437, May 26, 2016, SPA -- Officials say a Turkish Airlines jet on a flight from Istanbul to London has made an emergency landing in ...

 May 26 2016 - Saudi- Team of King Salman Center for Relief delivers 200 tons of dates to MauritaniaSaudi Press Agency
(MENAFN - Saudi Press Agency) Nouakchott, 19 Sha'ban, 1437,May 26, 2016, SPA -- The team of King Salman Center for Relief and Humanitarian Aid handed over today the gift of the Custodian of the Two ...

 May 26 2016 - Finance Minister meets Sudanese Minister of InvestmentSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 19 Sha'ban, 1437,May 26, 2016, SPA -- The Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf met here today with the Minister of State at the Ministry of ...

 May 26 2016 - Welcome to Happiness Island Resort, Abu DhabiMENAFN Press
(MENAFN Press) The new beach destination, Happiness Island Resort, situated two minutes from Saadiyat jetty via speed boats, hosted an exclusive media sneak-peek last weekend. The ultimate ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help