Qatar growth sinks as oil sector stalls, sanctions cause minor damage

Qatar growth sinks as oil sector stalls, sanctions cause minor damage:

"Qatar’s economic growth slowed in the second quarter to its lowest rate since the global financial crisis because of a sagging oil sector, while sanctions by other Arab states inflicted minor damage, official data showed on Sunday.

Gross domestic product, adjusted for inflation, expanded just 0.6 percent from a year earlier in the April-June period, the slowest growth since the 2009-2010 crisis. GDP grew 0.5 percent from the previous quarter.

The main reason for the slowdown was the mining and quarrying sector, which includes oil and gas output; it shrank 2.7 percent from a year ago. Last December, Qatar and other global oil producers agreed to cut output to support prices."



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