Qatar’s GDP to grow 7.8 percent by 2016

Driven by large investments in construction, services and transport sectors, Qatar’s overall GDP is projected to grow in the range of 6.8 percent to 7.8 percent during 2014-16 and the non-hydrocarbon share to GDP is set to hit 57.2 percent by 2016, QNBGroup’s Qatar Economic Updated. The country’s current account surplus is projected to narrow over the medium-term on lower oil prices; with the fixed exchange rate to the US dollar. Qatar’s international reserves are projected to remain adequate and most of the oil and gas exports are destined to Asia. Qatar’s fiscal policy aims to maintain budget surplus, while undertaking large infrastructure investments.