Qatar's Central Bank Governor Sheikh Abdullah bin Saud Al-Thani has confirmed that the external account surplus and the financial reserve provide the necessary macroeconomic strength in the State of Qatar, noting that Qatar's GDP growth rate is expected to rise to 2.8% in 2020, which will be the fastest In the GCC region, according to the IMF's World Economic Outlook.
Responding to questions ahead of Euromoney Qatar 2019, Qatar's central bank governor added that Qatar's policy measures to help economic diversification will boost economic growth in the non-hydrocarbon sector, expecting broad-based economic growth to be driven by recovery in both sectors. Hydrocarbon and non-hydrocarbon.
The hydrocarbon sector is likely to grow alongside the planned expansion of energy production in the next few years, which will have a catalytic effect on the non-hydrocarbon sector, he said.
He stressed that the economic outlook for 2020 remains positive, as a number of policy measures taken in recent years are expected to boost overall economic growth in the country, and favorable macroeconomic fundamentals and financial stability will also provide growth for an enabling macroeconomic environment.
"It can be emphasized that Qatar has been ranked as one of 20 countries in the world in terms of improvement in" ease of doing business, "the latest World Bank report.