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Saudi Arabia's annual inflation eased to 4.9% in June, its lowest level since September of last year, despite a big rise in housing prices, according to recent official data. Data from the Central Department of Statistics showed previously that consumer prices slowed to 5.1% in May from 5.3% in the same month a year earlier, while monthly inflation remained unchanged from April at 0.2%. GDP is projected to slow down both this year and next, partly reflecting conscious policy choices. The main reason for the expected economic slowdown reflects the undeclared moratorium on gas output. According to the General Secretariat for Development Planning (GSDP), inflation-adjusted GDP growth should ease from 14% in 2011 to 6.2% in 2012, reaching 4.5% in 2013. Qatari authorities are exploring regional and international options to at achieve diversification and development of the country’s economy.
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