Qatar achieves sixth rank globally in 2020 economic performances Jun 17, 2020 0 1740 12345 Tribune News Network Doha Qatar achieved the sixth rank out of 63 countries, mostly high-income ones, in Economic Performance for 2020 in The World Competitiveness Yearbook 2020. Qatar ranked 14 internationally according to the results which confirm Qatar''s strong performance across various fields. The ranking was based on national statistics as well as opinions of sample businesses managers who provided their views of Qatar''s economy competitive climate. The World Competitiveness Yearbook 2020 is annually published by the International Institute for Management Development (IMD) located in Lausanne of Switzerland. Areas where Qatar ranked highly in the report included economic performance (ranked 6), government efficiency (ranked 7) and business efficiency (ranked 11). Moreover, Qatar has maintained its ranking at 40 for infrastructure. Qatar''s rank has been positively influenced by many factors including strong economic performance as represented by, Qatar’s low unemployment rate (ranked first), high percentage of gross fixed capital formation, capital investments, and saving to GDP (ranked first for all three), percentage of trade balance to GDP (ranked first), the high overall productivity (ranked first) and low inflation rate (ranked third) whereby other factors had negatively influenced the rank as real GDP growth per capita (rank 58), Office rents (rank 52), business expenditure on R&D (rank 57). Commenting on the findings of the report, President of Planning and Statistics Authority Dr Saleh bin Mohammed Al Nabit said, “These results confirm the solid overall performance and that the results will certainly help us to identify areas for further improvements.” “Qatar’ Second National Development Strategy 2018-2022 sets out clear goals in the areas of economic infrastructure and private sector development that will lead to economic and social growth.” Chief Economist, IMD World Competitiveness Center, Prof Christos Cabolis said, “Landing itself an impressive 14th place globally, Qatar has proven to be impressively resilient to crises. As by the end of 2019 the global economy was already starting to look shaky, and although our rankings show that Qatar was among of the first to show tangible signs of this, compared to other economies, Qatar quickly reacted. Something that resulted in dropping only in our short-term measurements, while ensuring long-term indicators such as health, education and business finance continued to improve in line with Qatar''s long-term trajectory.” “This is a sign of a crisis resilient economy, especially in the face of a global downturn. We expect Qatar to be one of the first to rebound from the current global situation.” Qatar’s competitiveness assessment in IMD World Competitiveness Yearbook 2020 is a collaborative effort between International Institute for Management Development and Planning and Statistics Authority. Qatar has contributed to the IMD Competitiveness Yearbook for the 12th time. RELATED ARTICLES Qatar wins historic WTO ruling against Saudi beoutQ piracy Jun 17, 2020 0 5553 Qatar 2022 will unite the world once COVID-19 is defeated, says Thawadi Jun 17, 2020 0 6525 Amir condoles with Amir of Kuwait Jun 17, 2020 0 6656 UEFA welcomes WTO decision The European Football Association (UEFA) has welcomed the decision of the World Trade Organization, which has condemned Saudi Arabia and the “beoutQ” channel for piracy. “UEFA welcomes the World Trade Organization .. FIFA acknowledges ruling FIFA has acknowledged the final panel report published by the World Trade Organization (WTO) in relation to the activity of the pirate broadcaster known as ‘beoutQ’ and the active involvement and support that has been .. COVID-19: Dexamethasone proves 1st life-saving drug AFP Paris Dexamethasone, a cheap and widely used steroid, has been found to dramatically reduce the risk of dying from COVID-19, the disease caused by the new coronavirus, in what scientists in the United Kingdom have .. Amir greets Morocco king on successful surgery His Highness The Amir of State of Qatar Sheikh Tamim bin Hamad Al Thani on Tuesday held a telephone conversation with HM King Mohammed VI of the Kingdom of Morocco. During the phone call, HH The Amir congratulated the .. Albania exempts Qataris from entry visa until November 30 Albania has decided to exempt citizens of Qatar from entry visa to the country during the period from June 10 to November 30, 2020. This was revealed by an official source in the Consular Affairs Department at the Ministry .. WTO gives Saudi 60 days to implement ruling Maryam Maged Abouzaid Doha The World Trade Organization (WTO) ruling in favour of Qatar on Tuesday has proved that Saudi Arabia has breached its obligations and allowed piracy operations from its territories, ..