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Qatar GDP to Grow 18.5pc, Says IMF
DUBAI - Qatar’s gross domestic product will grow by 18.5 percent this year as gas exports increase, leaving the economy at risk of overheating in the medium term, the International Monetary Fund said.
The Gulf country should have “positive” economic prospects in the medium term, with continuing strong growth, moderate inflation and a fiscal and current account surplus in 2010, the Washington-based lender said in a e-mailed report late yesterday. Inflation is forecast at 1 percent this year.
Rapid growth has ‘the potential of overheating the economy unless the government continues to prioritize and sequence its spending toward infrastructure spending,” the Fund said. Infrastructure projects should be phased in to avoid supply bottlenecks that could drive up inflation, it said.
Qatar, the world’s biggest producer of liquefied natural gas, is benefiting from higher oil and gas prices this year. The country is spending $100 billion on projects to build up its infrastructure and raise its annual LNG export capacity to 77 million tonnes this year from 54 million.
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