Doha: Qatar Economic Insight 2015 published by QNB Group examines recent developments and the outlook for the Qatari economy as it continues its strong growth based on large investment spending.
The Barzan project is likely to drive growth in the hydrocarbon sector, which is expected to grow by 0.8% in 2015, 1.8% in 2016 and 1.9% in 2017 despite declining oil production due to maturing oil fields. The non-hydrocarbon sector is projected to continue its double-digit growth on large investments in construction, financial services and real estate.
The large influx of expatriate workers driven by major investment projects will add to aggregate demand, putting moderate pressure on domestic inflation. Counterbalancing this, foreign inflation is expected to slow in 2015-17 as international commodity prices fall on weak global demand, record food harvests and a stronger US dollar.
