(MENAFN) According to figures by the Ministry of Development Planning and Statistics (MDPS), Qatar's economy accelerated in the first quarter of 2014, Arab New reported
The economic pick-up was mainly driven by strong growth in construction, financial services and trade, restaurants and hotels
Qatar real gross domestic product (GDP) growth accelerated to 6.2 percent in the year to the first quarter of 2014, with the non-hydrocarbon sector expanding by 11.5 percent owing to rapid progress
The pickup in growth came despite a 1.2 percent contraction in hydrocarbon real GDP as a result of falling crude oil production and flat production at LNG facilities
"In 2015-16, we expect momentum to continue to gather steam owing to the ongoing implementation of major projects, with growth rising to an average of 7.7 percent," said QNB Group in a report
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