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Qatar’s economy to witness recovery in 2022

(Source The Peninsula) – Qatar’s economy is expected to witness a robust recovery this year. In fact, according to the latest Qatar Economic Outlook Report 2021-2023, the global organisations expect Qatar’s economy to grow by more than 2% in 2021, and by more than 3.5% in 2022.

A few days ago, the Planning and Statistics Authority (PSA) published the Qatar’s Economic Outlook Report 2021-2023 – Issue No. 13 – with the developments of the national economy during 2017-2021.

Dr. Saleh Al Nabit, President of the Planning and Statistics Authority said that “The preliminary results of the PSA’s forecasts for non-oil activities for the three scenarios indicate that it is likely to grow between 3% and 3.9% in 2021, and between 2.8% and 4.7% in 2022, driven by the expectations of booming activities related to hosting the 2022 FIFA World Cup,”

These assumptions are therefore expected to drive GDP growth between 1.5% and 2.3% in 2021, with a range of between 1.6% and 2.9% in 2022, before stabilizing in 2023 between 0.7% and 1.8%”.

The recovery of the Qatari economy will depend mainly on the extent of the stability of global oil and gas prices, the openness of movement, travel, and tourism, which will be conducive to hosting of the FIFA World Cup.

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