Arab Monetary Fund forecasts 4.4% GDP growth for Qatar in 2022

Arab Monetary Fund forecasts 4.4% GDP growth for Qatar in 2022

The Arab Monetary Fund (AMF) expects Qatar’s economy to grow by 4.4% this year and 3.6% in 2023, supported by the boom in activities related to the country’s hosting of the FIFA World Cup Qatar 2022, and the growth of non-hydrocarbon activities, in addition to its vital role in the global gas market, which enhances prospects for growth of the local economy.

The fund said in a report released yesterday that it expects inflation in Qatar will record about 4.3% during the current year, and it will decline to 3.5% during the next year.

The AMF expects the Gulf Co-operation Council countries to achieve a relatively higher growth rate this year, at about 6.3%, compared to 3.1% last year, due to a host of factors supporting growth in both the oil and non-oil sectors, and the positive impact of the applied economic reforms, in addition to continuing to adopt stimulus packages supportive of recovery from the Covid-19 pandemic.

It is likely that the growth rate of the group of countries will decline to 3.7% in 2023, the AMF said.

The report also expects that the growth rate of Arab economies would collectively about 5.4% in 2022, compared to 3.5% in 2021.

The expansion