Qatar one of the fastest growing economies in the region

(MENAFN) Qatar has been one of the fastest growing countries in the region and the near-term macroeconomic outlook remains strong said a statement issued by managing director of the International Monetary Fund (IMF) Christine Lagarde on the occasion of her visit to Qatar.

Lagarde said that growth could accelerate this year and next supported by a large public infrastructure programme pointing out that the decline in oil and natural gas prices will substantially reduce external and fiscal surpluses but its impact on growth will be softened in the near term due to the availability of Qatar's sizeable financial buffers and continued public investments.

Lagarde also welcomed the recent steps by the ministry of finance to improve the budget process and formulate a fiscal consolidation strategy in the context of a medium-term framework are welcome. Given the strong starting financial position the fiscal consolidation can be gradual so as to reduce the risk of adverse effects on economic activity she added.