Saturday, 26 May 2018 06:46 GMT

Qatar's GDP accelerates to 6.2 percent in Q1

(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

Qatar's GDP accelerates to 6.2 percent in Q1

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