Qatar GDP to grow by $10 billion in 2022

Qatar GDP to grow by $10 billion in 2022

Qatar's gross domestic product is expected to rise from $161 billion in 2021 to $172 billion this year. Moreover, it will reach $181 billion in 2023, $191 billion in 2024 and $201 billion in 2025.

Earlier, in order to overcome numerous regional and global obstacles, Qatar introduced an advanced economic model that strengthened its status as a regional economic center. The government's approach is to strike a balance between an oil-based economy and the real economy.

 According to the Deputy Minister of Trade and Industry of Qatar, Sultan bin Rashid AlKhater, the Gulf state has entered a new economic stage and is directing its efforts to support national production.

Al-Khater added that the legislative and regulatory initiatives introduced have improved the growth of Qatar's economy. According to the forecast of the International Monetary Fund, this year the state's economy is expected to grow by 3.2%. At the same time, last year this figure reached 2%.

At the same time, the total investment in production in 2021 amounted to 2.1 billion Qatari riyals, which led to the creation of 2,581 new jobs at industrial facilities.