Strong economic recovery – The Peninsula

Strong economic recovery – The Peninsula

The strength and resilience of Qatar’s economy has once again been validated by global institutions. After the World Bank, another international organisation has predicted a strong recovery for Qatar’s economy. The International Monetary Fund (IMF) has projected a growth of 3.9 percent for Qatar’s real Gross Domestic Product (GDP) in its World Economic Outlook released recently.

This year’s growth forecast for Qatar’s economy is substantially higher than the growth recorded last year. According to International Monetary Fund, Qatar’s economy grew by 1.5 percent last year.The optimism by global organisations about Qatar reflects the strength and resilience of local economy.

The growth registered by the economy is result of many proactive measures taken by the government departments and agencies.Many indicators have indicated that the country’s economy is on a strong footing. Exports from Qatar con-tinue to maintain growth momentum.

The growth in exports has also helped the trade surplus, which is the difference between total exports and imports, of Qatar.Figures released the Planning and Statistics Authority show that Qatar’s trade surplus has shown impressive growth in January this year. Qatar’s foreign merchandise trade balance showed a surplus of QR25.9bn in January this year, an increase of about QR12.4bn or 91.3 percent compared to January