We've kept our 2025 GDP growth forecast for Qatar unchanged at 2.4% despite the escalation in the regional conflict in June. We think activity may soften briefly in the near term, but sentiment is recovering and we expect no lasting damage to the economy. The outlook continues to benefit from improvements in the regulatory framework and business environment, which have helped elevate the country's competitiveness ranking by two places to ninth globally in the latest IMD competitiveness index.
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