Commercial Bank Financial Performance
Qatar Outlook economy well positioned for 2023 and beyond
Economy
Policy
Fiscal
strength
Embargo
Ended, Rollout of
Covid 19 vaccines
Sector
recovery
World
Cup
Source: Standard Chartered Bank Economic Outlook 2023, Qatar News Agency
.
Qatar continues to be one of the world's largest LNG exporter.
Economic activity should continue to be supported by investment related to
the North Field gas expansion and robust growth in logistics, manufacturing,
and trade.
The North Field gas expansion plans to increase Qatar's LNG output to 110
million tonnes per annum (mtpa) by 2025 and thereafter to 126 mtpa by
2027.
The FIFA World Cup Qatar 2022™ has been a major success for the country
and region. More than 1.4 million people visited Qatar during the 29-day
event.
Qatar's GDP growth is projected at 4 percent in 2023, Standard Chartered
said in a 2023 Economic Outlook report earlier this month.
Qatar approved its budget for the 2023 fiscal year, with particular focus on
health and education sectors.
Moody's had raised the country's outlook from stable to positive, while
Standard & Poor's had raised the country's credit rating from (AA-) to (AA)
with a stable outlook
The improvement in the country's credit rating confirms the strength and
flexibility of the local economy, in addition to the financial stability
witnessed by the country, which increases the country's attractiveness to
foreign investments and contributes to reducing the cost of borrowing
for the country and the institutions operating in it.
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