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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

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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.