World Bank: Qatar’s 2018 Economic Outlook

The World Bank recently reported that Qatar’s economic performance is expected to steadily accelerate in 2018 and continue to do so through 2020.

“Growth is expected to recover to 2.8% in 2018, and rise further to an average of 3% in 2019-20…”

The World Bank cited multiple factors in the expectation for further economic growth, including revenue from energy exports, infrastructure spending in anticipation for the World Cup in 2022, and a new natural gas facility that will become operational in 2020. The publication cited Qatar’s government actions as mitigating the effects of the illegal diplomatic siege.

“Government efforts to ease the costs and to lighten the effects of the blockade on the population will likely limit the scope for cutting spending sharply.”

The report also notes that new Qatari tax measures will limit Qatar’s fiscal deficit.

“… [K]ey tax policy and administrative measures, including the introduction of a VAT and excises during 2018 are expected to further contain the fiscal deficit over the medium term…”

(Image Source: The Peninsula)