Qatar's economy to grow rapidly despite ongoing siege

Qatar's economy continues to grow at the fastest pace in the Gulf Cooperation Council (GCC) region, Qatar Central Bank Governor Sheikh Abdulla bin Saoud Al-Thani said on Sunday, according to the country's state-run news agency.

Despite the blockade imposed by the Saudi-led quartet, Qatar's economy has shown resilient performance in the period that followed the June 5 decision to impose sanctions on the country, Al-Thani said.

Qatar's real GDP is projected to grow at 2.5 percent in 2017, he added.

Al-Thani commented on the latest IMF report, which expected the real GDP growth in Qatar to stand at 3.1 percent in 2018, up from 2.5 percent in 2017.

"Trade, current account balance and inflation are all stable, in addition to the exports and imports."

"Driven by buoyant oil prices, we expect the current account to exhibit an improved performance during the year," he said.

(CGTN)