Qatar’s nominal GDP has been forecast at $227.3bn this year and $228.8bn in 2024 in a report by regional banking group Emirates NBD.
Real GDP growth has been forecast at 2.3% this year and 2.6% in 2024. The country’s current account (as a percentage of its GDP) has been forecast at 20.8% this year and 22.8% in 2024.
Emirates NBD has forecast budget balance (as a percentage of its GDP) at 3.8% this year and 6% in 2024. Inflation based on consumer price index is expected to be 3% this year and 2.5% in 2024.
In a report on energy transition, Emirates NBD said the conventional approach to analysing the economic impact of the energy transition is that economies highly dependent on the extraction of hydrocarbons will be challenged as the global economy reduces its dependence on hydrocarbons as energy inputs.
This economic shorthand suggests that economies in the GCC — where oil and gas still represent a large share of nominal GDP and account for the largest share of fiscal and current account receipts — will need to substantially reform their economic structure in order to achieve long-term sustainable growth.—Zawya News
