IMF reports on Qatar's new reality
Qatar is adjusting to the new reality of sustained lower energy prices. The drop in international oil and gas prices has put considerable pressure on the fiscal and external positions. However, the authorities’ policy response has been adequate, underpinned by cuts to current expenditures and renewed efforts towards increasing non-oil revenues, according to a new report by the IMF. Tariffs of some utilities (water and electricity) have been increased from October 2015 and the increase in gasoline prices in January 2016 was followed in May by the implementation of a regular price adjustment mechanism.