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Private sector credit growth in Qatar solid, says report

Satyendra Pathak
Qatar’s private sector registered solid credit growth in the first two months of 2019 when compared with same period of the previous year, FocusEconomics has said in its latest report.
According to FocusEconomics Consensus Forecast - Middle East & North Africa for April, the private sector credit growth coupled with subdued price pressures supported consumer spending in the country.
Highlighting Qatar’s solid economic position despite the ongoing blockade, the report said, “Qatar raised $12 billion on March 6 in an oversubscribed bond sale, indicating strong investor sentiment.”
“Growth should accelerate this year, supported by higher hydrocarbon production and infrastructure projects related to the 2022 World Cup,” it said.
The non-oil private sector expanded at a moderate pace in the first quarter of 2019, the report said.
FocusEconomics panelists see growth of 2.7 percent in 2019, which is unchanged from last month’s estimate, and 2.9 percent in 2020.
“Consumer prices fell 1.6 percent year-on-year in February, matching January’s
figure. Soft food prices and lower housing costs have muted price pressures in recent months. Going forward, price pressures are expected to pick up on stronger economic
activity. The possible introduction of VAT presents an upside risk to the inflation outlook. Our panelists expect inflation to average 1.4 percent in 2019 and 2.3 percent in 2020,” the report said.