Qatar’s decision to increase LNG output by 30% by 2024 will “increasingly drive Qatar’s next development phase” as the current multi-year wave of infrastructure spending begins to flatten out in terms of growth ...
Helped by higher hydrocarbon prices, government finances are expected to steadily improve with Qatar’s budget seen in “broad balance” this year, before returning to a “healthy surplus” in 2019, according to QNB.
According to QNB, bank deposits have seen a 5.3% growth year-on-year in July.
Despite the US cycle’s increasing maturity, recession fears are premature, says QNB report
Qatar’s exports grew 27.3% year-on-year in April and imports grew 3.1% y-o-y.
Qatar’s goods trade surplus is benefiting from “recovering” imports and “buoyant” exports, driven by higher hydrocarbon prices, QNB has said in its weekly economic commentary.
Banking assets in the country have grown 8.8% year-on-year (y-o-y) to $383.2bn in March, QNB has said in its Qatar Monthly Monitor.
QNB Chief Executive Ali Ahmed al-Kuwari said in an interview there had been unusual moves in Qatari credit default swaps late last year.
The report showed Qatar’s current account surplus widened to 5.3% of GDP in the third quarter (Q3) from 2.5% in the second quarter (Q2) while the deficit in the financial account narrowed.
Qatar’s growth is set to rise on higher oil prices, eased fiscal constraints and investments in LNG production, QNB has said in its latest ‘Qatar Economic Insight’.