Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar's GDP Growth to Rise 6.3% in 2014  Join our daily free Newsletter

MENAFN - Qatar News Agency - 24/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Qatar News Agency) Ha june 24 (qna) - the ministry of development planning and statistics expected a robust growth of qatar's real gross domestic product (gdp) to 6.3% in 2014 and 7.8% in 2015 driven by gathering expansion of the non-hydrocarbon economy.



this came in qatar economic outlook (qeo) 2014-2015 report released today by the ministry.

the impulse to growth from hydrocarbon production in past years is receding and growth is increasingly dependent on solid performance in other sectors according to the qeo report.



commenting on these indicators he minister of development planning and statistics dr. saleh bin mohammed al nabit said "the last few years have shown a robust trend of continuous growth in non-hydrocarbon sectors. last year for example services and construction were the main contributors to economic growth propelled by investments in infrastructure."



he added "in the coming years growth is expected to be more broadly based still." the qeo report released every six month by the ministry of development planning and statistics said that inflation forecast to be largely unchanged in 2014 at 3.0% compared to 3.1% last year and to increase modestly in 2015 to 3.4%.



domestic inflationary pressures are expected to pick up over the rest of 2014 and in 2015 as domestic demand strengthens though the moderate inflation in the first half of 2014 will restrain the year's average and a benign global inflation outlook will help to offset domestic sources of inflationary pressures in the near term.



the fiscal surplus in fy2013/14 was higher than the previous year's. the balance is on track to remain in surplus in fy2014/15 even if narrowing over the forecast period owing both to expenditure growth (capital and recurrent) as the public investment programme gathers pace and to an expected decline in hydrocarbon revenue.

although staying hefty as a share of gdp the current account surplus is set to continue drifting down mainly on declining hydrocarbon export revenue rising imports and higher foreign workers' remittances.



risks to the outlook include chances of much weaker oil prices--reflecting a combination of weakening economic growth in emerging markets and expanding oil supply--and escalating domestic project costs that could cut into the fiscal surplus.

still "qatar will continue strengthening its economic management and its private sector to reinforce its positive development trajectory" dr. saleh said. (qna)


 


Qatar News Agency




  MENA News Headlines
 Oct 25 2014 - Qatar's inflation rate to hit 5.5 percentMENAFN
(MENAFN) Qatar's inflation rate in 2014 is expected to touch 5.5 percent due to steady rise in housing rentals, according to the finding of a research conducted by Standard Chartered, The Peninsula ...

 Oct 25 2014 - Flydubai launches two flights to TanzaniaMENAFN
(MENAFN) Dubai-based flydubai's inaugural flights to Dar es Salaam and Zanzibar touched down in Tanzania. The new routes further underline flydubai's rapid expansion in Africa, which has seen the ...

 Oct 25 2014 - UAE air cargo to grow 4.1 percent in 5 yearsMENAFN
(MENAFN) The International Air Transport Association (IATA) Airline Industry Forecast 2014-2018 shows that international freight volumes are expected to increase at a compound annual growth rate ...

 Oct 25 2014 - Qatar- QSL: El Jaish face Al Gharafa todayThe Peninsula
(MENAFN - The Peninsula) Third-placed El Jaish will seek to narrow the gap between them and two higher placed rivals - Lekhwiya and Al Sadd € when they take on Al Gharafa in the ninth round match of ...

 Oct 25 2014 - Somalia- Mogadishu port on development pathThe Peninsula
(MENAFN - The Peninsula) Camels are prepared for export at the loading dock at the seaport in Mogadishu. The Somali government's grand vision for Mogadishu port under its new Turkish managers sees ...

 Oct 25 2014 - Saudi Shias protest death sentencesThe Peninsula
(MENAFN - The Peninsula) More than 100 people protested in eastern Saudi Arabia yesterday to oppose death sentences against a Shia religious leader and seven others convicted after earlier ...

 Oct 25 2014 - Palestine defies US, issues statehood ultimatumThe Peninsula
(MENAFN - The Peninsula) Palestine's chief peace negotiator has laid out in the clearest terms yet plans to establish an independent Palestinian state within three years, even if it means ignoring ...

 Oct 25 2014 - Police kill six militants ahead of key Tunisian pollThe Peninsula
(MENAFN - The Peninsula) Tunisian police killed six suspected militants, five of them women, in a raid on a suburban house yesterday after a 28-hour standoff, fanning tensions ahead of a landmark ...

 Oct 25 2014 - US looking into possible chlorine gas attack in Iraq: KerryThe Peninsula
(MENAFN - The Peninsula) The United States is looking into reports that Islamic State fighters used chlorine gas against Iraqi security forces, US Secretary of State John Kerry said yesterday.Kerry, ...

 Oct 25 2014 - Qatar- Ooredoo marathon offers QR1m prizesThe Peninsula
(MENAFN - The Peninsula) Registration for Ooredoo Doha Marathon 2015 is open, as the company begins preparations to ensure its biggest event yet on January 9.It will provide an opportunity to meet ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help