Macroeconomic Forecast Qatar

A subdued oil market in 2009 will impact upon Qatar's balance of payments outlook. Though we still expect the emirate to turn out a sizeable current account surplus this year of US$7.6bn (8.6% of GDP), this will be considerably down from the US$27.9bn outturn that we expect occurred in 2008. Liquefied natural gas (LNG) export revenues will provide some measure of protection from low oil prices as LNG prices are generally fixed in by long-term contracts.

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