The Ministry of Development Planning and Statistics (MDP&S) released today, 24 June 2014, the Qatar Economic Outlook (QEO) 2014–2015. QEO forecasts robust growth of real gross domestic product (GDP) of 6.3% in 2014 and 7.8% in 2015, driven by gathering expansion of the non-hydrocarbon economy.The impulse to growth from hydrocarbon production in past years is receding, and growth is  increasingly dependent on solid performance in other sectors. HE Dr. Saleh Al Nabit, Minister of MDP&S, stated that “The last few years have shown a robust trend of continuous growth in non-hydrocarbon sectors. Last year, for example, services and construction were the main contributors to economic growth, propelled by investments in infrastructure. And in the coming years, growth is expected to be more broadly based still.”Inflation inched up to 3.1% in 2013 from nearly 2% in 2012. It is forecast to be largely unchanged in 2014 at 3.0%, and to increase modestly in 2015 to 3.4%. Domestic inflationary pressures are expected to pick up over the rest of 2014 and in 2015 as domestic demand strengthens, though the moderate inflation in the first half of 2014 will restrain the year’s average, and a benign global inflation outlook will help to offset domestic sources of inflationary pressures in the near term. The fiscal surplus in FY2013/14 was higher than the previous year’s. The balance is on track to remain in surplus in FY2014/15, even if narrowing over the forecast period, owing both to expenditure growth (capital and recurrent) as the public investment programme gathers pace, and to an expected decline in hydrocarbon revenue. Although staying hefty as a share of GDP, the current account surplus is set to continue drifting down, mainly on declining hydrocarbon export revenue, rising imports and higher foreign workers’ remittances. Risks to the outlook include chances of much weaker oil prices—reflecting a combination of weakening economic growth in emerging markets and expanding oil supply—and escalating domestic project costs that could cut into the fiscal surplus. Still, “Qatar will continue strengthening its economic management and its private sector to reinforce its positive development trajectory,” commented Dr. Saleh. This release of QEO is available here