Macro - Country Economic Forecasts - Qatar
We have cut our 2024 GDP growth forecast for Qatar by 0.2ppts to 2% but continue to project faster growth of 2.8% for 2025. Industry is yet to provide support to growth, with June data confirming that Q2 was the weakest quarter for output in the current series as both mining and manufacturing production slumped. This drag is offset by robust non-energy activity, which we continue to project will grow by 2.5% this year. Still, official GDP data since Q3 2023 has yet to be released, adding risk to our outlook.
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