The Peninsula Qatar - Qatar’s growth momentum to pick up further: QNB

The Peninsula Qatar - Qatar’s growth momentum to pick up further: QNB:



"Qatar’s economy accelerated in the first quarter of 2014, driven by strong growth in construction, financial services and trade, restaurants and hotels, according to figures released last week by the Ministry of Development Planning and Statistics (MDPS). 



Qatar real GDP growth accelerated to 6.2 percent in the year to Q1, 2014 with the non-hydrocarbon sector expanding by 11.5 percent owing to rapid progress with the implementation of major projects. The pickup in growth came despite a 1.2 percent contraction in hydrocarbon real GDP as a result of falling crude oil production and flat production at LNG facilities, QNB said in its weekly research note.



QNB Group expects real GDP growth to continue to pick up during 2014 as hydrocarbon production stabilizes and non-hydrocarbon growth remains high. Overall, the new GDP data are in line with the QNB Group’s expectations for real GDP growth of around 6.8 percent in 2014. "



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