IMF: Qatar growth to rise 7% in 2015

he International Monetary Fund (IMF) expects Qatar's growth to rise to around 7% in 2015 and describes its short-term outlook as positive.
The Executive Board of IMF Thursday released a report that lauds Qatar for its strategy of diversifying its economy while retaining its key role in the global natural gas market.
Qatar's economy maintains strong growth momentum despite the large drop in oil prices since summer 2014.
Real GDP growth is stable at 6% over the past three years, mostly driven by a double-digit expansion of the non-hydrocarbon sector.
Falling global commodity prices have helped reduce inflation below 3%, despite a tight real estate market, the report says.
"Qatar's growth will remain strong this year. Public investment programme and a new natural gas field will propel its growth in the near term.
"Non-hydrocarbon growth should stay in double digits. Consumer price inflation is contained, although real estate prices have grown quickly." CPI inflation has eased in recent months, as rent increases stabilized and tradable inflation fell. In the short run, lower international commodity prices, including for food, and a strong US dollar should reduce headline inflation despite the tight rental market, the report says.