Commercial Bank Financial Performance Report Q1 2022
Qatar Outlook economy well positioned for 2022 and beyond
Policy
Economy
Embargo
Ended, Rollout of
Covid 19 vaccines
Sector
World
recovery
Cup
Source: International Monetary Fund, MCD Statistical Appendix April 2022; Qatar Energy
Fiscal
strength
.
•
Qatar's GDP growth is projected at 3.4 percent in 2022.
•
IMF projects Qatar to swiftly return to a current account surplus in 2022
•
•
•
- with current account balance projected at 19.9% of GDP in 2022.
Multiple infrastructure projects (e.g. World Cup 2022 stadiums, Qatar
Rail, Lusail) will continue to bolster the economy.
Qatar is one of the world's largest LNG exporter.
Qatar Energy (QE), the state-run LNG producer, plans to increase
production to 110 million tonnes per annum (mtpa) by 2025 from
current's 77 mtpa via the Phase 1 North Field expansion (North Field
East).
The second phase (North Field South) will further boost Qatar's LNG
production capacity to 126 mtpa by 2027. These measures will secure
Qatar's position as the world's leading supplier of LNG.
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