Qatar cuts 2015 growth forecast, sees deficit next year
Economic growth forecast to 7.3 percent from 7.7 percent and now expects its budget to swing to deficit next year
Qatar has cut its 2015 economic growth forecast to 7.3 percent from 7.7 percent and now expects its budget to swing to deficit next year, as opposed to a surplus projected six months ago, the Ministry of Development Planning and Statistics said on Tuesday.
The forecast still implies a pick-up in real gross domestic product growth from 6.1 percent in 2014.
Oil prices remain a key risk to the outlook, which is based on average prices of $56.0 and $61.6 per barrel in 2015 and 2016 respectively, the ministry said in a semi-report report.
Also Read
-
Oil export losses to reach $300 billion in Middle East
Economies dependent on oil exports, including Qatar, Iraq, Libya and Saudi Arabia, will be hit hardest by the more than 50 percent decline in oil prices Energy -
Qatar’s economy not affected by lower oil prices: emir
Qatar’s economy depends heavily on state spending funded by the coutnry’s gas exports Economy -
Egypt has paid back $500 mln to Qatar: central bank governor
Qatar helped prop up the Egyptian economy in the aftermath of the revolution that ousted Hosni Mubarak Economy -
Report: Qatar, UAE, Saudi economies most competitive in MENA region
The economies of Qatar, UAE and Saudi Arabia are the most competitive in the Arab world and are among the 20 most competitive globally, according to ... Economy -
Hollande in Qatar for talks on Syria, economy
French President Francois Hollande arrived on Saturday in Qatar for talks on the deadly Syrian conflict and economic ties with the gas-rich Gulf state ... Middle East
