Qatar’s GDP forecasts rapid growth in Q4 – The Peninsula

Qatar’s GDP forecasts rapid growth in Q4 – The Peninsula

Qatar’s Gross Domestic Product (GDP) is expected to increase significantly due to the rising extortionate foreign investments, especially in the Liquid Natural Gas (LNG) infrastructure in the country, according to a recent report by Fitch Solutions.

Fitch Solutions is optimistic of a potential increase of the Gross Domestic Product (GDP) from 4.3 percent to 4.6 percent in Q4 this year. The report’s key spotlight was on the upswing of Qatar’s economy and the impact it will have on investors around the globe.

The recent quarterly data shows that the economy of the Arab State plunged by 6.4 percent year-on-year in Q2 2022. This palpably is one of the highest growth rates since Q4 2014 as immense contribution comes from non-oil industries.

A buoyant economy was witnessed during this year’s Q3 and the GDP anticipates a momentous escalation in Q4 conspicuously in relation to the ongoing sporting tournament. “We believe that economic momentum has remained strong in Q322 and that real GDP growth will witness even faster growth in Q422, especially amid stronger consumption and services exports during the FIFA World Cup, which runs from November to December 2022,” it said.

The swift growth is a magnificent turnout eventually boosting the economy with a mixture