Qatar’s fiscal balance will scale up to 3% of the GDP in 2025 from 1.4% this year, FocusEconomics has said in a report.
On the other hand, the country’s public debt (as a percentage of the GDP) will fall to 56.9% of the GDP in 2025 from 63.3% this year.
The current account balance (as a percentage of the GDP) will rise to 7.5% (2025) from 3.2% this year, FocusEconomics said in its latest country update.
Qatar’s merchandise trade balance has been projected to top $45bn in 2025 from $33.6bn this year.
The country’s GDP, according to FocusEconomics, will total $207bn in 2025 from $168bn this year.
GDP per capita will reach $73,126 (2025) from $59,772 this year. Next year, it will be $62,955, $66,216 (2023) and $69,679 (2024).
Qatar’s unemployment rate (as a percentage of active population) will remain a meagre in 0.2% in 2025, from 0.3% this year.
The country’s inflation, the report noted, will be 1.8% in 2025 and 1% this year.
FocusEconomics panelists see a 2.8% rise in Qatar’s GDP in 2021, which is unchanged from last month’s forecast, before growth of 3.5% in 2022.
Consumer prices fell 1.4% in annual terms in February, following January’s 1.3% decline. Prices are seen rising later this year on higher food and energy costs, recovering activity and a supportive base effect.
The economy shrank 3.9% in annual terms in the fourth quarter (Q4) of 2020 according to recent data, amid contractions in both the energy and non-energy sectors. Turning to this year, restrictions were tightened progressively between February and April in response to rising Covid-19 cases, with tougher capacity limits in force for many public venues, and some—such as gyms and cinemas—closed completely.
“This has likely weighed on the services sector, although private sector PMI readings through March suggested resilient activity nonetheless. In contrast, the energy sector began the year on a robust footing, with oil and gas extraction growing year-on-year in January,” FocusEconomics said.Last updated: May 15 2021 10:02 PM
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