Qatar shows the highest GDP in non-oil sector across GCC

Highest GDP in non-oil sector for Qatar in 2017. According to Dr. Theodore, Qatar will see the highest non-oil GDP growth of 5.53% for 2017.

Dr. says in his GCC market outlook speech, reported by BBC energy and presented at GGC non-oil economy, last Wednesday in Dubai International Financial Centre (DIFC), that Qatar has budgeted $28 billion for the completion of all WORLD CUP – FIFA 2022 projects.
Dr. Theodore Theodoropoulos (CEO of QCIP) says in his GCC market outlook speech, reported by BBC energy and presented at GGC non-oil economy, last Wednesday in Dubai Financial Centre (DFC). Photo by QGN
Dr. Theodore Theodoropoulos (CEO of QCIP) says in his GCC market outlook speech, reported by BBC energy and presented at GGC non-oil economy, last Wednesday in Dubai International Financial Centre (DIFC). Photo by QGN

The IT, communication and telecom sectors of Qatar have been a highly performance industries since the past few years and they will continue to perform well in 2017 too, Dr. Theodore’s outlook points out. ”However, draws attention to the fledgling financial sector highlighting the challenges faced by the sector. Dr. says that Qatar and UAE have very little outstanding public debt and therefore can borrow more capital” Dr. noted. ”Quick to add that further capital must be borrowed only after careful considerations about its implications on domestic liquidity, credit and bank reserves. The stock markets of GCC countries have had some of the lowest turnover rates in 2016 despite Qatar and UAE being the emerging markets”. Furthermore, the recovery in oil prices also failed to generate interest among investors towards the region”, Dr. Theodore added. “Poor earnings growth in many of the key sectors, especially banks, did not augur well for improving the liquidity in the stock markets,” Dr. noted.

Bid Presentation of Qatar World Cup 2022, by HE Sheikh Mohammed Al-Thani
Bid Presentation of Qatar World Cup 2022, by HE Sheikh Mohammed bin Hamad Al-Thani

 

Above QGN provides the video of the 1st Bid Presentation of Qatar World Cup 2022, by HE Sheikh Mohammed bin Hamad Al-Thani, which Qatar has budgeted $28 billion for the completion of all FIFA 2022 projects. The overall earning index for GCC countries is expected to be at .6% for 2017 due to the recent austerity measures of GCC governments. Corporate earnings in Saudi Arabia, Kuwait and Qatar declined by 3.53%, 3.34% and 7.68% respectively, whereas for UAE the said earnings remained flat during 2016. Oman’s economic fortunes turned around to some extent last year and grew by 5.43%. Corporates in the GCC could consolidate their earnings as they adjust to the new normal this year, Dr. Theodore predicted.

 

Sources: QGN, Gulf Agencies, Dr. Theodore Theodoropoulos ”GCC Outlook Growth for Non-Oil GDP Growth” Ed. March 2016, Dr. Theodore Theodoropoulos ”The Secret World of Enerrgy” Ed. 2009/2012, BBC Energy News, Kuwait Financial Centre, Qatar FinaNcial Centre (QFC).

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