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24 Jan, 2018 15:23

Qatar economy weathers impact of Saudi-led blockade – report

Qatar’s economy has weathered the impact of a months-long blockade by neighboring countries, although its tourism and real estate sectors have taken a hit, AFP said, citing an economic report. The Gulf state’s economy has maintained positive growth in the seven months since Saudi Arabia, the United Arab Emirates, Bahrain and Egypt imposed an air and land siege, the report by Capital Economics said on Wednesday. National accounts data confirmed that Qatar avoided the worst fears that the diplomatic crisis would plunge its economy into recession, according to the independent London-based research firm. It added that growth of the non-hydrocarbon sector, which is more vulnerable to the blockade, remained unchanged at 3.2 percent in the third quarter.