HE the Minister of Finance Ali Shareef Al Emadi said Sunday he expected a 7% Qatari economic growth during the year 2015 in addition to the current budget surplus.
On the sidelines of Qatar National Bank’s (QNB) Group’s ordinary general assembly meeting , Al Emadi said that the inflation rate stands at 3% at the current moment which are considered reasonable levels, especially in light of the development projects in the country .
He noted that in past years, Qatar has often made very conservative financial policy, saying the oil price in the current budget is $ 65 per barrel, He added that Qatar sold oil at an average of $85 per barrel since the start of the year.
The Finance Minister said that the rate of debts that Qatar National Bank are in doubt of collecting were at 1.6%, which is a low rate compared to other banks outside Qatar ,while saying QNB’s capital exceeded 14%, making the bank fully prepared for applying Basel III.
He added that the bank allocated QR 200 million to sports and social activities in addition to 2.5% of its profits to the internal activities.
Source : Qatar News Agency
