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Home > Country Profiles > Qatar

Country Profiles

Financial Outlook

The economy grew at an annual pace of 6.2% in the third quarter of 2013 compared with the same period in 2012 according to the Ministry of Development Planning and Statistics. Growth was driven by double-digit growth in trade, restaurants, and hotels; construction; transport and communication; financial, real estate, and business services; as well as domestic services. In January 2013 the commercial bank QNB Group forecast that GDP growth would rise to 6.8% in 2014, driven by the accelerating implementation of large infrastructure projects and rising domestic demand generated by rapid population growth. In December 2013 Qatar said that it expected to post a budget surplus of more than US$21.97 billion in the current fiscal year as the budget was based on an oil price of US$65 per barrel whereas average crude prices in international markets were around US$105 in 2013. Consumer price inflation rose by an annual 2.7% year on year in December 2013, mainly due to higher rents and costlier furniture and entertainment.

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Further reading on Qatar

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