Bank assets in Qatar grew 10.9% year-on-year (y-o-y) in July to QR1.3tn, compared to a growth of 11.6% in June, a new report has shown.
Higher oil prices and the positive fiscal outlook should provide a lift to Qatar’s economy, particularly in the non-hydrocarbon sector, QNB has said in an economic commentary.
Qatar's real economic growth is expected to rise to 2.6% this year and further to 3.6% in 2018, even as inflation is expected to harden by 2018 in view of the value added tax (VAT) rollout, according to QNB.
Qatar oil production increased to 615,000 bpd in April from 610,000 bpd the previous month, QNB’s new data showed.
The four-month low global oil prices rather limited the FTSE Russell-induced gains on the Qatar Stock Exchange (QSE) this week.