{
  "title": "Qatar: 2016 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Qatar",
  "publication": "IMF Staff Country Reports, April 10, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/04/10/qatar-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-44812",
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  "summary": "This 2016 Article IV Consultation highlights the adverse impact of lower hydrocarbon prices on the macroeconomic performance of Qatar. Growth has slowed despite still-resilient nonhydrocarbon activity. Real GDP growth of 2.7 percent is estimated for 2016.",
  "publishDate": "2017-04-10",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The 2016 Article IV Consultation highlights the adverse impact of lower hydrocarbon prices on the macroeconomic performance of Qatar.\n- Growth has slowed despite still-resilient nonhydrocarbon activity."
    },
    {
      "heading": "Macroeconomic performance and projections",
      "content": "- Real GDP growth of 2.7 percent is estimated for 2016.\n- Growth is expected to slow in the medium term as public investment growth tapers off and hydrocarbon output continues to slow.\n- A moderate recovery in global commodity prices is expected to contribute to gradual improvement in balances over the near to medium term."
    },
    {
      "heading": "Inflation and subsidy reform",
      "content": "- Inflation remained low despite subsidy cuts, averaging about 2.7 percent in 2016.\n- Further subsidy cuts are expected to help improve fiscal and external balances gradually."
    },
    {
      "heading": "Fiscal and external balances",
      "content": "- The report projects gradual improvement in the fiscal and external balances driven by:\n  - Further subsidy cuts.\n  - A moderate recovery in global commodity prices.\n  - The introduction of a value-added tax."
    },
    {
      "heading": "Policy recommendations and tools",
      "content": "- Introduce a value-added tax to support fiscal consolidation and external balance adjustment.\n- Continue subsidy reform to reduce fiscal pressures.\n- Manage public investment growth as hydrocarbon output slows to sustain medium-term macroeconomic stability.\n\nInternational Monetary Fund. \"Qatar: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Qatar\" (April 10, 2017).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/04/10/qatar-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-executive-44812"
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    "Published: April 10, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475593518.002",
    "The 2016 Article IV Consultation highlights the adverse impact of lower hydrocarbon prices on the macroeconomic performance of Qatar.",
    "Growth has slowed despite still-resilient nonhydrocarbon activity.",
    "Real GDP growth of 2.7 percent is estimated for 2016.",
    "Growth is expected to slow in the medium term as public investment growth tapers off and hydrocarbon output continues to slow.",
    "A moderate recovery in global commodity prices is expected to contribute to gradual improvement in balances over the near to medium term.",
    "Inflation remained low despite subsidy cuts, averaging about 2.7 percent in 2016.",
    "Further subsidy cuts are expected to help improve fiscal and external balances gradually.",
    "The report projects gradual improvement in the fiscal and external balances driven by:",
    "Introduce a value-added tax to support fiscal consolidation and external balance adjustment.",
    "Continue subsidy reform to reduce fiscal pressures.",
    "Manage public investment growth as hydrocarbon output slows to sustain medium-term macroeconomic stability.",
    "**Country Report**"
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