Analysis by Region - MENA - Qatar
The ongoing preparations for the World Cup propelled growth in Qatar's non-oil sector to 9.7% y/y in Q2, the fastest rate of growth since mid-2015. This, alongside expectations of activity benefitting from an influx of visitors in the near term, has prompted us to lift our 2022 non-oil GDP growth forecast to 7.6%, from 5.1% before. This will drive a 5.2% expansion in the economy this year (1.6ppts above our previous projection), followed by a slowdown to 2.7% in 2023.
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