"Qatar is expected to maintain an annual economic growth 5-6% in the next few years mainly supported by its non-hydrocarbon sector and fiscal deficit is not expected before 2017-18, according to global banking giant Barclays.
“With gas production and exports operating at full capacity, keeping hydrocarbon growth mute, planned increases in public spending in FY13/14 should keep non hydrocarbon activity buoyant, maintaining annual GDP (gross domestic product) growth in the 5-6% range in the next few years, in our view,” Barclays said.
Forecasting that non-oil activity is expected to remain dominating growth drivers, Barclays expects the sector to grow 10% and 9% year-on-year (y-o-y) in 2013 and 2014, respectively, and remain in that range until 2017-18, driven by anticipated increases in public spending in line with Qatar’s revised National Development Strategy (NDS)."
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