The Planning and Statistics Authority in Qatar expected economic growth to range between 1.6 percent and 2.9 percent this year, compared to 1.5 percent and 2.3 percent last year.
According to the economic prospects report issued by the authority, the growth comes as a result of the recovery of non-oil activities at a rate ranging between 2.8 and 4.7 percent, especially the manufacturing, building and construction, services, and tourism-related sectors, as well as the recovery of wholesale and retail trade, and transport activities. Noting that the expectations of international institutions, organizations and banks showed that the Qatari economy will witness a recovery during 2021 and 2022 with an average growth rate of about 2.8 percent and 3.7 percent, respectively. It is likely, according to the preliminary results of expectations regarding non-oil activities, that the growth ranged between 3 percent and 3.9 percent in 2021, while it will range between 2.8 percent and 4.7 percent during the current year, based on the expectations of the prosperity of activities related to hosting the FIFA World Cup championship 2022, to recede slightly in 2023, between 1.3 percent and 2.9 percent.
The report expects that these assumptions will lead to a positive growth rate of GDP ranging between 1.6 percent and 2.9 percent in 2022, before stabilizing between 0.7 percent and 1.8 percent in the next 2023.
Source (Al-Araby Al-Jadeed Newspaper, Edited)