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  • 26-12-19

    3.2 percent surge likely in Qatari economy

    (MENAFN) Qatar is expected to achieve a surge by 3.2 percent in its economic growth by 2021 following a 0.5 percent increase this year and a 1.5 percent boost next year, as the World Bank projects in its "Gulf economic update," saying that the Barzan Gas Project is likely to drive output to jump 2 billion cubic feet daily to stand at 11 billion cubic feet per day.

    World Bank's Regional Director of GCC Countries, Middle East and North Africa Region Issam Abousleiman confirmed that "measures to diversify away from oil and gas production are beginning to yield results."

    According to the report, governments within GCC nations achieve substantial development when it comes to structural reforms, with GCC states progressively reforming their local business as well as foreign investment environments.

    It further pointed out that GCC nations launched reforms aimed at easing trade and luring further foreign investment, with financial reforms proven to be growing across the GCC region despite a poor international outlook that would stand in the way of growth prospects.

    MENAFN2612201900450000ID1099475621

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