Doha – Mubasher: Qatar’s economy growth rate is expected to reached 3.9% during 2016-2017, a report by the National Bank of Kuwait (NBK) said on Monday.
The report forecasted the country’s non-oil growth to reach 6.3% in 2016-17 and a current account deficit of -2.3% of the Qatar’s gross domestic product (GDP).
Credit to the private sector is projected to rise 15.7% year-on-year, while the gulf state’s consumer price index (CPI) is expected to increase from 1.6% in 2015 to 2.9% in 2017.
NBK said that Qatar Central Bank (CBQ) is likely to raise the interest rate in line with the U.S. Federal Reserve’s decision to increase the interest rate to a range of 0.25% to 0.5%.
