Macroeconomic Forecast Qatar

Persistently high oil and gas prices will support another year of strong expansion in 2005. While we expect oil production to remain broadly stable, we forecast gas output to rise at an annual average rate of 10% over the forecast period, allowing for exports of 24.3bn cubic metres (bcm) in 2005, rising to 27.0bcm in 2006. Inflation remains a concern: while prices have historically been stable, the consumer price index rose 6.8% last year, largely due to rising property prices.

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