Doha-Mubasher: The Qatari economy grew by 6.1% in 2014 and is set to continue its rebound to 7.1% in 2015, according to a report released by Bank Audi.
The economy’s strong performance was actually driven by an 11.8% expansion in the non-mining and quarrying sectors which included a 17.7% year-on-year increase in the construction sector.
The country’s overall trade surplus declined 4.5% in 2014 against a 3.1% growth in 2013, as per the Central Bank of Qatar.
The current account surplus fell to 26.1% of GDP in 2014, down from 30.7% of GDP in 2013.
The Qatari government surplus decreased by 30% to reach $29.4 billion in FY14/15, said the International Monetary Fund.
Qatar’s consumer price index grew by a mere 0.9% year-on-year in April 2015, after rising by 3.0% on average in 2014, due to the direct and indirect effects of falling oil and non-oil commodity prices.
The banking sector reported a 10.4% growth, reaching a total of $277.2 billion by the end of April 2015.
