Knowledge Note

"Real GDP growth in Qatar will turn positive again in 2021 as energy prices stabilize at around US$42 bbl, global LNG demand picks up, and nonenergy economic sentiment improves once the pandemic is controlled."

COVID-19 and the sharp fall in hydrocarbon revenues will lead to a contraction of real GDP growth of 2 percent in 2020. The decline has been mitigated by infrastructure-related spending ahead of the FIFA World Cup in 2022, the continued expansion of LNG capacity, and fiscal and monetary response. Steps taken to improve the business environment, as well as the final push ahead of the World Cup are expected to underpin growth in the medium term.