Most executives see Qatar economic growth to meet or exceed forecasts
- Date: 30-Nov-2022
- Source: Zawya
- Sector:Financial Services
- Country:Qatar
Most executives see Qatar economic growth to meet or exceed forecasts
Most business leaders in Qatar are upbeat about the future prospects of the country’s economy, according to a new study by EY.
Among the executives interviewed for the study, 82% said they expect Qatar’s economic growth in the next five years to meet or exceed forecasts.
The Qatar Investment Outlook Pulse 2022 from EY, which is based on one-on-one interviews, also found that businesses have been doing quite well, with 60% of executives saying their investments have managed to yield positive returns in the past 12 months.
About nine in 10 (91%) also said they expect their investment to be better than last year’s, although 64% admitted having difficulties accessing capital
Qatar’s gross domestic product (GDP) is forecast to rise to QAR 764 billion ($201 billion) this year, significantly higher than the QAR 525.7 billion recorded in 2020.
Most upbeat
Among the respondents included in the EY study, 64% of those in the oil and gas and 45% in the consumer services said they expect the sectors to outgrow the overall economy over the next five years.
However, more than half (55%) of the respondents have bearish sentiments relating to the growth of the construction sector, especially since most mega projects will be either complete or nearly