Qatar – Mubasher: Qatar’s gross domestic product is expected to grow by 3.7% in 2015, down from 4.1% recorded in 2014. However, it is forecasted to exceed 4% in 2016, showed a report issued by the Ministry of Development Planning and Statistics.
The expected decline in GDP growth for this year is attributed to shrinking hydrocarbon sector due to the slump in oil prices and closure of certain facilities for maintenance.
The report also forecasts strong growth in non-hydrocarbon sector, yet seeing slower pace of such growth as investment projects reach their peaks amid slower population growth and the government’s efforts to boost public spending efficiency.
“While non-hydrocarbon sector continues to register strong growth rates, such pace will likely slow down till bringing GDP growth to 3.9% by 2017,” said the report.
