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Additional housing supplies may ease inflation
The Central Bank in Qatar has revealed that additional housing supplies, during later part of this year, may ease soaring rents and stabilize inflation.
The Qatar Central Bank Governor, Sheikh Abdullah bin Saud Al Thani, speaking on the sidelines of the Arab government finance meet, mentioned that, towards end of this year, inflation is likely to ease due to an increase in housing supplies.
“The inflation has reached maturity during the last two quarters touching 13.7 percent, and is heading towards a decline by the end of the year,” agreed Sheikh Abdullah.
Lower inflation levels would also decrease burden on the government to revalue its currency against the tumbling dollar, or to drop its peg to the US dollar.
According to UAE Governor, Sultan Nasser Al Suweidi, even rent pressures will subside in 2008 in the country.
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