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 complete in the coming months. 

But they expect that new mega projects, such as the postponed Sharq Crossing, the planned airport expansion and the development of the Lusail City project, will help alleviate some of the worries surrounding the construction industry’s prospects. 

 

Source: https://www.zawya.com/en/economy/gcc/most-executives-see-qatar-economic-growth-to-meet-or-exceed-forecasts-katwks4e

 

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