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Satyendra Pathak
Doha
The long-awaited Public-Private Partnership (PPP) law passed by Qatar’s government in May this year should support investment and activity in the country’s non-oil sector, FocusEconomics has said.
According to FocusEconomics Consensus Forecast-Middle East & North Africa for June report, the PPP law coupled with a 13 percent of GDP stimulus package will prop up economic activities in the country.
While the economy remains hamstrung in the second quarter due to lockdown and travel restrictions, the report said, a strong fiscal stimulus package worth QR75 billion will support the non-oil private sector cushion the downturn.
“Since May, Qatar’s economy has begun to gradually restart, which should prop up industrial activity,” the report said.
FocusEconomics panelists see Qatar’s economy to grow 3.5 percent in 2021. The country’s economic growth will further accelerate to 3.6 percent in 2022, the report said.
“Consumer prices fell 3.1 percent in annual terms in April, sharper than March’s 1.4 percent decline, due to COVID-19 weighing on activity. Consumer prices should ebb this year, due to economic slack. Our panelists see consumer prices falling 0.4 percent in 2020, which is down 0.4 percentage points from last month’s forecast. In 2021, our panel sees inflation averaging 1.8 percent,” the report said.
The report indicated that the GDP per capita in Qatar will increase from $60,518 in 2020 to $78,914 in 2024.
According to the annual data released as part of the report, the overnight lending rate in the country would continue to rise from the current level and reach up to 4.24 percent by 2024.
The Qatari riyal will continue to be pegged at $3.64 in the years to come, the report said.
The country would witness a sustained increase in both imports and exports in the coming years. While the merchandise exports from the country are expected to rise from $55 billion in 2020 to $85.6 billion in 2024, the report said, merchandise imports would increase from $29.2 billion in 2020 to $37 billion in 2024.
FocusEconomics, a leading provider of economic analysis, has also forecast that Qatar’s trade balance would rise from $25.9 billion in 2020 to $48.5 billion in 2024.
The report has projected that Qatar’s current account balance will account for 4.4 percent of the total GDP in 2022. The percentage of the current account balance is expected to be at 3.9 percent in 2023, the report said.
Doha
The long-awaited Public-Private Partnership (PPP) law passed by Qatar’s government in May this year should support investment and activity in the country’s non-oil sector, FocusEconomics has said.
According to FocusEconomics Consensus Forecast-Middle East & North Africa for June report, the PPP law coupled with a 13 percent of GDP stimulus package will prop up economic activities in the country.
While the economy remains hamstrung in the second quarter due to lockdown and travel restrictions, the report said, a strong fiscal stimulus package worth QR75 billion will support the non-oil private sector cushion the downturn.
“Since May, Qatar’s economy has begun to gradually restart, which should prop up industrial activity,” the report said.
FocusEconomics panelists see Qatar’s economy to grow 3.5 percent in 2021. The country’s economic growth will further accelerate to 3.6 percent in 2022, the report said.
“Consumer prices fell 3.1 percent in annual terms in April, sharper than March’s 1.4 percent decline, due to COVID-19 weighing on activity. Consumer prices should ebb this year, due to economic slack. Our panelists see consumer prices falling 0.4 percent in 2020, which is down 0.4 percentage points from last month’s forecast. In 2021, our panel sees inflation averaging 1.8 percent,” the report said.
The report indicated that the GDP per capita in Qatar will increase from $60,518 in 2020 to $78,914 in 2024.
According to the annual data released as part of the report, the overnight lending rate in the country would continue to rise from the current level and reach up to 4.24 percent by 2024.
The Qatari riyal will continue to be pegged at $3.64 in the years to come, the report said.
The country would witness a sustained increase in both imports and exports in the coming years. While the merchandise exports from the country are expected to rise from $55 billion in 2020 to $85.6 billion in 2024, the report said, merchandise imports would increase from $29.2 billion in 2020 to $37 billion in 2024.
FocusEconomics, a leading provider of economic analysis, has also forecast that Qatar’s trade balance would rise from $25.9 billion in 2020 to $48.5 billion in 2024.
The report has projected that Qatar’s current account balance will account for 4.4 percent of the total GDP in 2022. The percentage of the current account balance is expected to be at 3.9 percent in 2023, the report said.
