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The World Bank expects Qatar's real GDP growth to reach 2.8% in 2025, with public fiscal surpluses remaining strong.The World Bank's report, released on Thursday under the title "Digital Transformation in the Gulf: A Powerful Driver of Economic Diversification," states that non-oil sectors in Qatar have maintained their strength even amid declining oil and gas prices. It adds that the expansion of the North Field will drive a substantial increase in liquefied natural gas (LNG) production, further strengthening Qatar's role in meeting global market needs.The report highlights three key themes: the evolution of economic diversification indicators over the past decade; tracking macroeconomic developments; and spotlighting digital transformation, all against a backdrop of global uncertainty and oil market volatility.The report reviews the progress of economic diversification efforts across GCC countries over the past decade, noting moderate advancement, with some promising recent indicators. However, the report stresses that the oil sector still dominates, shaping economic conditions, development strategies, and national plans.Meanwhile, non-oil exports remain modest, with chemicals topping the list, indicating that the process of shifting away from oil dependence still requires sustained efforts.The report also highlights the rapid digital transformation underway in the Gulf and the accelerated adoption of artificial intelligence.GCC countries boast high-quality telecommunications networks, with over 90% 5G coverage and affordable high-speed Internet. Significant investments in data centres and high-performance computing are strengthening AI readiness.Progress is further supported by robust ecosystems of incentives, finance, and innovation, as well as the adoption of generative AI applications within government operations.Commenting on the findings, World Bank's Division Director for the GCC countries, Safaa El Tayeb El Kogali, stated that diversification and digital transformation are no longer luxuries; they are necessities for long-term economic stability and prosperity. Strategic investments in non-oil sectors and innovation will be essential for sustaining growth and economic resilience.She added that the digital leap achieved by GCC countries is remarkable. Strong infrastructure, growing computing capabilities, and expanding AI talent pools position the region for leadership and innovation, provided environmental and labour-market challenges are addressed proactively.The report also points out that women's participation in STEM fields in the Gulf exceeds the global average, boosting the region's digital competitiveness. To maximise the benefits of diversification and digital transformation, the Gulf Economic Update recommends supporting SMEs in adopting AI to strengthen the innovation landscape and implementing skills-training programmes to address labour-market gaps.The report stresses that regional co-operation in digital infrastructure and the creation of AI centres of excellence are crucial to building unified digital markets and driving transformation across the Middle East, North Africa, Afghanistan, and Pakistan. 

The World Bank backs language in a US-drafted United Nations Security Council resolution on Gaza that would authorise a two-year mandate for a transitional governance body.The 15-member UN Security Council began negotiations on Thursday on the text that would mandate a so-called Board of Peace transitional governance administration, giving it the authority to establish operational entities to address issues including the reconstruction of Gaza and of economic recovery programmes.The World Bank, the UN and the European Union had estimated in February it would cost more than $50bn to rebuild Gaza, and are finalising a new interim estimate of $70bn."Our engagement in Gaza will require the ability to work with international partners who enjoy the full support of the international community and full authorisation to undertake their efforts," World Bank President Ajay Banga wrote to US Ambassador to the UN Mike Waltz."The proposal to establish an authority, in the current draft the Board of Peace, by the UN Security Council with the authorisations set out in the resolution would provide the needed framework for engagement by the Bank," he said in the letter Sunday.Banga was responding to correspondence from Waltz, thanking him for sharing the draft UN resolution.The current text also "calls upon the World Bank and other financial institutions to facilitate and provide financial resources to support the reconstruction and development of Gaza as it would provide to its members, including through the establishment of a dedicated trust fund for this purpose and governed by donors."Banga said the bank appreciated this language, adding: "We are moving with all deliberate speed in these efforts so we will be ready on day one when asked to answer this call."Israel and Palestinian group Hamas agreed a month ago to the first phase of US President Donald Trump's 20-point plan for Gaza, a ceasefire in their two-year war and a hostage release deal. The next phase of the plan, which the draft UN resolution would endorse, is to establish the Board of Peace and a temporary International Stabilization Force in Gaza.The US formally circulated the draft resolution to Security Council members late on Wednesday.The draft would authorize a two-year mandate for the ISF that could "use all necessary measures" - language for force - to carry out its mandate.The US asked countries to submit feedback on the text by last Friday, said diplomats. A council resolution needs at least nine votes in favour and no vetoes by Russia, China, France, Britain or the United States to be adopted. Washington has said it aims to put the draft to a vote within "weeks, not months.""Overall, things are looking very positive. We're making changes to respond to concerns that some have raised," a U.S. official, speaking on condition of anonymity, said.

Syrian Minister of Transport Yaarub Bader met with Manager of Transport Global Practice for the Middle East & North Africa at the World Bank, Ibrahim Dajani. During the meeting, they reviewed several vital projects for developing the infrastructure and rail transport sectors in Syria, efforts to rehabilitate urban roads and improve transportation, as well as a strategic plan to modernize and rehabilitate the railway network.Both sides emphasized that these projects are crucial for sustainable development and achieving economic integration among Syrian governorates.

His Excellency Minister of Finance Ali bin Ahmed Al Kuwari met with the President of the Islamic Development Bank Group Dr Mohammed bin Sulaiman Al Jasser, on the sidelines of the Annual Meetings of the International Monetary Fund and the World Bank Group in Washington, D.C. During the meeting, the relations between the two parties were reviewed, along with prospects for enhancing and developing them in key shared investment and financial sectors, in addition to discussing a number of topics of mutual interest. HE Minister of Finance also met with Chief Executive Officer of Deutsche Bank, Christian Sewing, on the sidelines of the Annual Meetings of the International Monetary Fund and the World Bank Group. During the meeting, a number of topics related to shared interests were discussed, with a focus on financial and economic matters.

His Excellency the Minister of Finance Ali bin Ahmed al-Kuwari participated in the meeting of Finance Ministers, Central Bank Governors, and Heads of Regional Financial Institutions from the Middle East, North Africa, Afghanistan, and Pakistan. The meeting was chaired by Kristalina Georgieva, Managing Director, International Monetary Fund (IMF), and was held on the sidelines of the IMF and World Bank Group Annual Meetings, now being held in Washington, DC. The meeting discussed key strategic issues related to economic growth in the region, in addition to future outlooks and fiscal policy requirements to combat inflation. It also addressed sustainable financing strategies, ways to stimulate economic growth, and the promotion of innovation in financial development.Regional and global challenges were also reviewed, particularly the risks of rising inflation rates and food insecurity. The participants stressed the importance of continuing efforts to adapt to the current financial and economic developments.The meeting was held within the framework of enhancing regional cooperation and the exchange of insights among financial and economic policymakers, with the aim of supporting economic stability and achieving sustainable development across the region.

Qatar, represented by the Ministry of Finance, has signed an agreement with the World Bank Group to establish an office that will serve Qatar and support the wider region. This initiative comes within the framework of strengthening bilateral co-operation and supporting economic development efforts across the region. The agreement was signed on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group, now being held in Washington, DC. “This agreement reflects Qatar’s commitment to deepening its international partnerships with leading financial institutions and accelerating the implementation of sustainable development programmes adopted by the country, in line with the goals of Qatar National Vision 2030,” the Ministry of Finance said in a release. The establishment of the World Bank office in Qatar provides an advanced platform for the exchange of technical and financial expertise with institutions and multilateral organisations. This new partnership also highlights Qatar’s status as a leading regional hub for economic and financial development, reaffirming its commitment to open and effective international cooperation in pursuit of inclusive and sustainable growth.

His Excellency the Minister of Finance Ali bin Ahmed al-Kuwari participated in the meeting of Arab Finance Ministers, alongside Ajay Banga, President of the World Bank Group and several finance ministers.The meeting was held on the sidelines of the Annual Meetings of the International Monetary Fund and the World Bank Group, now taking place in Washington, DC. The meeting comes as part of efforts to strengthen cooperation with international financial institutions, exchange views on global economic developments, and explore opportunities to support financial stability and promote sustainable growth in the region.It aims to highlight the achievements of the Gulf Cooperation Council (GCC) in addressing global and regional priorities, and explore opportunities for cooperation across several actionable economic and financial sectors – contributing to the empowerment of both regional and global economic growth.The meeting also shed light on the attractiveness of the investment environment in GCC countries and the creation of high-quality opportunities across various sectors. In addition, it addressed the economic and development policies expected to be adopted as part of joint GCC efforts in the coming phase.

Minister of Foreign Affairs and Expatriates of the Syrian Arab Republic Asaad Al Shaibani met on Wednesday with World Bank Division Director for the Middle East Department, Jean-Christophe Carret, who is visiting Damascus.The Syrian Arab News Agency (SANA) reported that the meeting discussed ways to enhance development and reconstruction cooperation between Syria and the World Bank.It is worth noting that the US Treasury Department ended its sanctions program on Syria, a strategic turning point in Damascus's economic and diplomatic relations and an opportunity to reintegrate Syria into the international financial system after long years of restrictions and economic isolation.