#Qatar expects economy to contract this year: central bank report - Reuters

Qatar expects economy to contract this year: central bank report - Reuters:

Qatar expects the economy to contract this year amid low oil prices and the coronavirus crisis, after it shrank by 0.3% last year, the central bank said in a report on Monday.

“Our initial analysis indicates that, if the conditions of dual stress continues for an extended period, real GDP growth will remain negative in 2020,” the report said.

In 2019 real gross domestic product contracted by 0.3% mainly because of a slowdown in the hydrocarbon sector, it said.