World Economy

Qatar Eyes 7% Growth

Qatar Eyes 7% GrowthQatar Eyes 7% Growth

Qatar’s economy is predicted to grow by 7% in 2015, as it forges ahead with huge infrastructure investment despite the slump in oil prices, PTI quoted leading economists as saying Wednesday. The figure compares with estimated growth of 6.5% for 2014. The Qatar National Bank’s “Economic Insight” predicted even higher growth rates of 7.5% for 2016 and 7.9% for 2017 in the gas-rich Persian Gulf state. “Qatar is well-positioned to withstand the temporary decline in oil prices due to its strong macroeconomic fundamentals,” the QNB report said. “With substantial financial resources, Qatar has ample external and fiscal buffers to continue implementing its ambitious investment program.