Links ~ Qatar ... 19/12/2011
Monetary Fund: a positive outlook for Qatar in 2012, but growth will slow
Dubai, International Monetary Fund said that the pace of economic growth in Qatar will slow down next year and they face increased risk of decline in oil and gas prices as a result of falling global demand, but the outlook overall for the Qatari economy remain positive.
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Qatar's economy grew the largest exporter of LNG in the world rate in the double digits in 2011 and Qatar plans to spend vast sums on infrastructure projects before hosting the World Cup football in 2022.
and the International Monetary Fund said in a statement after the end of the annual consultations with Qatar in the first December "remains the outlook for 2012 positive despite growing external risks. is expected to come down the rate of GDP growth to six percent in 2012. "
The IMF predicted that the rate of growth for the current year 19 percent.
In October, said the General Secretariat for Development Planning in Qatar, it expects a slower rate of GDP growth to 5.1 percent in 2012 from 15 percent in the current year with the decline of expansion programs in the production of gas, which lasted for decades.
The IMF said "slow real GDP to oil and gas sector for less than three percent as a result of the imposition of the country's temporary ban on development projects in hydrocarbon new until 2015, but huge investments in infrastructure and increase the production of the manufacturing sector will enhance the growth of real GDP in the non-hydrocarbon sector to accelerate to nine percent. "
The IMF said the outlook for Qatar will remain positive over the medium term, but warned of the dangers outside.
"The main risks in the future is low oil and gas prices as a result of falling global demand and the disruption of natural gas (LNG) because of geopolitical tensions rising, but the government reserves, sufficient financial and policy framework that would reduce the potential risks. "
and reduce the fund slightly estimates of inflation compared to the expectations contained in the outlook of the regional economy, issued in October ( October).
The IMF said "Following the contraction rate averaged 2.5 percent in 2010 is expected to reach the inflation rate two percent, on average, while bypassing the impact of high gasoline prices and local impact of international prices of food decline in rents a wide margin.
"expected to average core inflation rate of four percent in 2012. "
In a report in October (October), the IMF projected that the average inflation rate to 3.2 percent in 2011 and 4.1 percent next year.
Qatar said in September it would raise pensions and wages and bonuses for workers in the the state and the armed forces at a cost of up to 30 billion riyals (8.2 billion dollars) after the economic turmoil elsewhere in the Middle East and North Africa.
The IMF said "remain core inflation is low, but inflation risks have grown somewhat as a result of the continued increase in public sector wages, which highlights the need for fiscal policy to control aggregate demand and management of central bank liquidity."
The IMF said that the increase in wages and pensions will add about 1.6 billion dollars of government spending in the budget for fiscal year 2011 to 2012.
"We fill regulatory gaps in the financial system and to continue efforts to develop domestic bond market are essential to promote greater financial stability with the development of the financial system.
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