Qatar’s economy rose 6. 1% in the current quarter compared to the previous year, according to government statistics on Wednesday, as the coronavirus outbreak closed businesses and reduced activity.
Real gross domestic product (GDP) also rose 6. 4% in the current quarter compared to the first quarter, based on consistent prices, as shown by the qatari Planning and Statistics Authority.
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Transportation and garage fell by nearly 40% year-on-year, accommodation and food fell by 38. 7% and the wholesale and retail industry and vehicle repair fell just over 30%.
Qatar, the world’s largest exporter of liquefied herbal gas, will diversify its economy by boosting tourism and foreign investment in non-hydrocarbon sectors.
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His central bank said in August that he expected the economy to contract this year amid low energy and a coronavirus crisis, after falling by 0. 3 percent last year, but did not give an estimate.
The International Monetary Fund on Tuesday lowered its forecast for Qatar’s genuine GDP in 2020, expecting it to fall by 4. 5% since the April forecast of a 4. 3% contraction.
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