We've kept our 2025 GDP growth forecast for Qatar at 2.7%. This is significantly below our regional growth projection of 4.0%, but higher than our 1.9% growth estimate for this year. Industrial output is still weaker than a year ago, but woes are slowly dissipating amid lower maintenance activity. Meanwhile, the momentum in non-energy sectors appears robust for Q4 and strong business sentiment is supporting the 2025 outlook.
Qatar: Non-energy economy is ending the year on a robust footing