According to a report issued by it, the United Nations expects that the Qatari economy will witness continuous growth during the years 2021 and 2022, and it is expected that Qatar's GDP will achieve a growth of 3.9% in 2021, to record a growth of 2.8% in 2022.
According to the report, the expected increase in Qatar's GDP growth comes supported by the recovery of oil prices and the continued spending on projects related to the 2022 World Cup. According to the data contained in the report, this increase places the Qatari economy at the forefront of the most growing economies in the Gulf and the region in 2021, despite the devastating economic and social consequences of the Coronavirus around the world.
The report expects that the economies of the Gulf region will recover from the consequences of the Corona pandemic, and achieve economic growth of about 3.5% during 2021, with the support of high oil prices, and that the energy sector will be the main engine for the growth of government revenues for the GCC countries, compared to a contraction of 5.4% in 2020, to grow in 2022 by 2.5%.
The report also warned that the devastating social and economic impacts of the Covid-19 pandemic will remain tangible in the coming years unless there are smart investments in building economic, social and climate resilience to ensure a strong and sustainable recovery of the global economy. The report noted that the global economy contracted by 4.3% in 2020, which is two and a half times more than the contraction that occurred in the global economy during the global crisis in 2009. It revealed that the modest growth expected for the global economy in 2021, which is estimated at 4.7%, will hardly cover losses in the year 2020.
Source (Al-Raya Newspaper-Qatar, Edited)
