Qatar's international reserves rebound to USD40bn in a year

Favourable energy prices and prudent fiscal management had led to a "rebound" in Qatar's international reserves to $40bn in November 2012 compared with a low of $14bn in November 2011, a QNB report shows.

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Qatar's "healthy savings" are also reflected in the country generating a surplus in current account balance to $16.6bn in the third quarter of 2012, QNB Financial Services said in the report.
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This indicates a year-on-year (y-o-y) growth of 9.3%, a good sign of the country's economic activity. A surplus in current account balance is indicative of an economy that is a net creditor to the rest of the world.

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