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Qatar's Minister of Finance meets with the IMF & World Bank | Qatar-America Institute
Qatar’s Minister of Finance – Mr. Ali Shareef Al-Emadi – is leading Qatar’s delegation to the Spring Meetings of the World Bank Group and the International Monetary Fund from April 12-14. The Qatari delegation’s participation in the Spring Meetings is set against a backdrop of Qatar’s strong 2019 growth forecast of 2.6% and fiscal performance that will see the country post a surplus this year. This is despite the global economy entering “synchronized slowdown” according to the latest update of a tracking index compiled by the Brookings Institution and the Financial Times.[1] The IMF also cut its global growth forecast from 3.5% to 3.3% for 2019. Investor confidence in Qatar’s economy was reinforced in March 2019, with a $12 billion issuance that was well oversubscribed by investors globally. Qatar Economic Update: – Qatar is forecast to post a fiscal surplus of $1.2 billion in 2019 — the first surplus in 4 years — supported mainly by higher hydrocarbon prices translating into stronger budgetary revenues. – Qatar’s macroeconomic resilience allows it to enjoy high investment-grade credit ratings from the three international credit ratings, Moody’s, S&P and Fitch. Despite the uncertainty created by recent geopolitical conditions, all rating agencies have rated Qatar’s economic outlook as “stable”. – The non-oil and gas sector account for 64% of the overall economy in 2018, with construction and manufacturing driving GDP growth. – Qatar’s economy grew by 2.7% in 2018, outperforming the GCC average of 2.4%. – Non-hydrocarbon exports have grown to represent a more material …