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Qatari Second-Quarter GDP Drops to Lowest Since 2012

Qatari Second-Quarter GDP Drops to Lowest Since 2012

Thursday, 15 October, 2020 - 11:15
A Qatari man shops at a supermarket. EPA

Qatar’s economy performed its worst since at least 2012 during the second quarter amid lockdown measures to combat the coronavirus, Bloomberg reported.

The country’s gross domestic product fell 6.1% in the April-to-June period on an annual basis, according to estimates by the Planning and Statistics Authority. The economy contracted 1% in the same period of 2019.

Transportation, warehousing, retail trade, accommodation and leisure services were especially hit by the Covid-19 pandemic, said the report.

The International Monetary Fund projects Qatar’s GDP to fall 4.5% this year.

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