+ A
A -
SATYENDRA PATHAK
DOHA
Qatar's strong fiscal position and relatively diversified economy will propel economic activity going forward in the country, FocusEconomics has said in its latest report.
According to The FocusEconomics Consensus Forecast Middle East and North Africa report for November, Qatar's economic growth will accelerate to 3.1 percent in 2018, which is up 0.1 percentage points from last month's projection.
In 2019, the report said, Qatar's economy will expand by 2.9 percent. The country's economy will continue to grow further for the next three years rising up to 3.6 percent in 2022 to $210 billion on account of economic diversification, the report said.
"While Qatar's reserves plummeted in June and July, they recovered in August. Regardless of its reserve levels, Qatar could rely on its massive sovereign wealth fund to support the financial sector and the peg with the dollar," the report said.
The GDP per capita in Qatar will also increase from $59,211 in 2016 to $60,097 in 2018, the report said adding that it would continue to rise further and reach up to $74,549 in 2022.
