Qatar Economic Outlook
October 4, 2016Qatar’s economy continues to suffer from a backdrop of low oil and gas prices. The country, which is set to run a budget deficit this year following 16 years of fiscal surpluses, continues to fill the fiscal gap by tapping the bond market. Qatar successfully sold USD 1.3 billion in domestic bonds for the second time this year in late September. The local banks’ ability to finance government debt stems from strong non-resident deposit growth and also increased liquidity after some of the USD 9.0 billion in foreign capital Qatar raised in May found its way into the domestic banking system. Meanwhile, in a bid to increase OPEC revenues from oil trading, which account for more than 90% of Qatar’s total goods and services exports, a preliminary agreement by OPEC members was reached on 28 September to trim oil production, following years of a produce-at-will strategy that had caused prices to plummet.
Qatar Economy Data
5 years of Qatar economic forecasts for more than 30 economic indicators.
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|Exchange Rate||3.64||0.01 %||Oct 26|
|Stock Market||0.2||-0.40 %||Oct 26|
Qatar Economic Growth
October 4, 2016Gradually increasing oil prices, coupled with higher gas output in H2 from the Barzan gas field, will support hydrocarbon growth. Non-hydrocarbon growth will be boosted by massive infrastructure investments. Nonetheless, FocusEconomics Consensus Forecast panelists see the economy growing 3.4% in 2016, which is down 0.3 percentage points from last month’s estimate. For 2017, the panel foresees growth of 3.6%.