Foreign workers wait for their bus at a construction site in front of Doha’s World Trade Center tower. (REUTERS/Fadi Al-Assaad)
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Qatar will likely face higher labor costs as a result of publicity about deaths of migrant construction workers building the infrastructure for the 2022 World Cup football tournament, the International Monetary Fund said.The country's fiscal surplus could shrink to 6.8 percent of GDP this year from an estimated 11.0 percent in 2013, and further to 4.2 percent in 2015, the IMF said, cutting its October forecasts of 8.4 percent and 5.8 percent, respectively.The IMF also raised its forecast for economic growth to 5.9 percent this year and 7.1 percent in 2015, from 5.0 percent and 6.6 percent, respectively, in its October regional outlook.Inflation should remain benign at 3.3 percent this year and 3.5 percent in 2015, the IMF said, less than 4.0 percent forecast for both years in October, as a decline in commodity prices will help reduce pressure from strong economic activity.
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