Mubasher: A recent report by Qatar National Bank (QNB) showed that the Qatari economy remains resilient.
Qatar’s economy grew by 1.6% in 2017, despite a lower output in the hydrocarbon sector due to the OPEC production agreement, as well as liquefied natural gas (LNG) maintenance.
Meanwhile, non-hydrocarbon GDP grew by 3.8% last year.
QNB revised up its forecast for oil prices to $72 per barrel in 2018 and $69 next year, from $69 and $66, respectively.
“Strong global demand and various supply disruptions will keep prices firm heading well into 2019 before slowing global GDP growth and increased US shale supply damp prices somewhat,” the report indicated.
GDP growth is expected to amount to 2.6% in 2018, with non-hydrocarbon GDP growth forecasted by the bank at 5%, and 5.3% in 2019.
Overall GDP growth is expected at 3.2% next year.
