Qatar to see mild economic expansion
Qatar’s economy is expected to pick up marginally next year but will remain below the average of the Middle East and North Africa region. The GDP growth may climb to 2.5% next year and then jump to 4.5% in 2025 due to improved relations with neighbouring countries, a burgeoning tourism industry and ongoing energy sector investment — both in fossil fuel and renewables, according to FocusEconomics.
The Qatari riyal is pegged to the US dollar at QAR 3.64 per USD and this peg is likely to remain in place until 2028, given the economic stability it provides and given that Qatar has ample international reserves to defend the peg.
2024 OUTLOOK
2.5% GDP growth
2.2% Average inflation
4.75% Overnight lending rate
LONG-TERM TRENDS
(3-year average) Year
GDP Growth (In%)
Inflation (In%)
2020-22
0.7
1.5
2023-25
3.1
2.4
2026-28
4.4
1.9
Sectors to Watch
Energy
Tourism
Real Estate
Construction
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INVEST GCC: DAVOS 2024
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