The IMF has cut its growth forecast for Qatar last week as a result of the trade embargo by GCC states and Egypt. Non-oil growth is projected to moderate to 4.6% in 2017 from 5.6% in 2016 “due to the ongoing fiscal consolidation and trade diversion,” the IMF said. Nonetheless, it also said that the Qatari economy is adjusting to the shock associated with the rift.

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