* The country’s GDP has been estimated to grow from $187bn this year to $223bn in 2026, the researcher says
Qatar’s public debt in relation to the country’s GDP will fall continually until 2026, according to researcher FocusEconomics.
The public debt (as a percentage of country’s GDP) will be 54% this year, 53.1 (2023), 51.2 (2024), 48.8 (2025) and 46.5 (2026).
The fiscal balance (as a percentage of country’s GDP) will be 4.8 this year, 2.7 (2023), 2.6 (2024), 3.4 (2025) and 4.3 (2026).
Qatar’s current account balance (as a percentage of country’s GDP) has been forecast at 8.9 this year, 6.6 (2023), 6.3 (2024), 8 (2025) and 9.6 (2026).
FocusEconomics estimates Qatar’s merchandise trade balance at $54.3bn this year, $51.9bn (2023), $53.2bn (2024), $57.9bn (2025) and $66.9bn (2026).
The country’s GDP has been estimated to grow from $187bn this year to $223bn in 2026. Next year, it is projected at $187bn, $197bn (2024) and $210bn (2025).
Qatar’s GDP per capita has been estimated at $66,880 in 2022, $65,535 (2023), $67,767 (2024), $70,874 (2025) and $73,838 (2026).
The unemployment will remain at a meagre 0.2% (of active population) until 2026.
While Qatar’s non-energy sector grew solidly amid the rollback of Covid-19 restrictions, energy activity contracted somewhat, FocusEconomics said.
Moving to Q4, 2021, the non-energy sector appeared to benefit from the commencement of the final phase of the government’s lockdown easing plan in early October, with the PMI averaging well above its Q3 level in Q4.
Regarding the energy sector, the output contracted in October year-on-year, before returning to growth in November last year.
Turning to 2022, FocusEconomics noted that at the end of January the government partly rescinded pandemic restrictions introduced at the start of the month, boding well for activity ahead.
Moreover, progress continues on the North Field Expansion Project, which aims to raise the country’s LNG capacity to 126mn tonnes per year:
In early January, QatarEnergy awarded an important construction contract for the site.
Expecting a “stable outlook” for Qatar’s economy, the researcher noted “GDP growth should accelerate this year thanks to a boost to government spending, ongoing gas sector investment, improved relations with Gulf neighbours and tourism—the FIFA World Cup is scheduled for late 2022.”
However, a reinstatement of restrictions due to new Covid-19 variants remains a key risk. FocusEconomics panellists see a 4.1% rise in GDP in 2022, which is unchanged from last month’s forecast, and 2.6% growth in 2023.
Inflation rose to 6.5% in December from 5.8% in November 2021, marking the highest rate in at least a decade, likely amid stronger domestic demand.
Price pressures are expected to moderate in 2022 as global supply chain disruptions ease and energy markets stabilise.
FocusEconomics panelists see inflation averaging 3.1% in 2022, which is up 0.3 percentage points from last month’s forecast, and 2.1% in 2023.
The public debt (as a percentage of country’s GDP) will be 54% this year, 53.1 (2023), 51.2 (2024), 48.8 (2025) and 46.5 (2026).
The fiscal balance (as a percentage of country’s GDP) will be 4.8 this year, 2.7 (2023), 2.6 (2024), 3.4 (2025) and 4.3 (2026).
Qatar’s current account balance (as a percentage of country’s GDP) has been forecast at 8.9 this year, 6.6 (2023), 6.3 (2024), 8 (2025) and 9.6 (2026).
FocusEconomics estimates Qatar’s merchandise trade balance at $54.3bn this year, $51.9bn (2023), $53.2bn (2024), $57.9bn (2025) and $66.9bn (2026).
The country’s GDP has been estimated to grow from $187bn this year to $223bn in 2026. Next year, it is projected at $187bn, $197bn (2024) and $210bn (2025).
Qatar’s GDP per capita has been estimated at $66,880 in 2022, $65,535 (2023), $67,767 (2024), $70,874 (2025) and $73,838 (2026).
The unemployment will remain at a meagre 0.2% (of active population) until 2026.
While Qatar’s non-energy sector grew solidly amid the rollback of Covid-19 restrictions, energy activity contracted somewhat, FocusEconomics said.
Moving to Q4, 2021, the non-energy sector appeared to benefit from the commencement of the final phase of the government’s lockdown easing plan in early October, with the PMI averaging well above its Q3 level in Q4.
Regarding the energy sector, the output contracted in October year-on-year, before returning to growth in November last year.
Turning to 2022, FocusEconomics noted that at the end of January the government partly rescinded pandemic restrictions introduced at the start of the month, boding well for activity ahead.
Moreover, progress continues on the North Field Expansion Project, which aims to raise the country’s LNG capacity to 126mn tonnes per year:
In early January, QatarEnergy awarded an important construction contract for the site.
Expecting a “stable outlook” for Qatar’s economy, the researcher noted “GDP growth should accelerate this year thanks to a boost to government spending, ongoing gas sector investment, improved relations with Gulf neighbours and tourism—the FIFA World Cup is scheduled for late 2022.”
However, a reinstatement of restrictions due to new Covid-19 variants remains a key risk. FocusEconomics panellists see a 4.1% rise in GDP in 2022, which is unchanged from last month’s forecast, and 2.6% growth in 2023.
Inflation rose to 6.5% in December from 5.8% in November 2021, marking the highest rate in at least a decade, likely amid stronger domestic demand.
Price pressures are expected to moderate in 2022 as global supply chain disruptions ease and energy markets stabilise.
FocusEconomics panelists see inflation averaging 3.1% in 2022, which is up 0.3 percentage points from last month’s forecast, and 2.1% in 2023.