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FocusEconomics revises up Qatar’s GDP forecast for 2021 to 2.9%

Satyendra Pathak
Doha
FocusEconomics has revised Qatar’s GDP forecast for 2021 to 2.9 percent, which is up 0.1 percentage points from last month’s forecast.
According to FocusEconomics Consensus Forecast-Middle East & North Africa for June report, Qatar’s economy is expected to grow at a higher rate of 3.6 percent in 2022.
Qatar’s economic outlook continues to improve as the country’s economy appeared to be resilient in the first quarter of the year, it said.
“Qatar’s economy is set to return to growth this year on stronger domestic and foreign demand. Investment in the energy sector and easing tensions with Gulf neighbours should also aid activity,” the report said.
While Qatar’s non-energy private sector Purchasing Managers Index (PMI) was well in the expansionary territory during the first quarter,
the report said, the performance of the energy sector improved in the first quarter of 2021 compared to the fourth quarter of 2020 as suggested by the industrial production data. pagE 7