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Sun 29 Sep 2013 03:37 PM

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Qatar's GDP growth slows marginally to 6% in Q2

Latest official data shows GDP rose 0.6% from Q1; dampened by drop in global oil prices

Qatar's GDP growth slows marginally to 6% in Q2
Currency from the Gulf state of Qatar, a Qatari Riyal sits with a U.S. dollar displayed for a photograph in Dubai, United Arab Emirates, on Wednesday, Nov. 21, 2007. Gulf Arab states may fail to keep consumer prices in check by revaluing their currencies against the dollar, according to strategists at HSBC Holdings Plc and Citigroup Inc. Photographer: Charles Crowell/Bloomberg News

Qatar's real growth in gross domestic product slowed slightly to 6.0 percent
year-on-year in the second quarter of 2013 from 6.2 percent in the first,
dampened by a drop in global oil prices, data showed on Sunday.

GDP rose 0.6 percent from the first quarter, according to the Ministry of
Planning and Statistics.

Output of the mining and quarrying sector, which includes oil and gas
production and accounts for more than 40 percent of GDP, rose only 1.0 percent
from a year earlier.

Most other areas expanded much faster, with the financial and real estate
sector growing 15.4 percent and the construction sector growing 11.4 percent as
Qatar pushed forward billions of dollars worth of infrastructure projects.