Qatar’s projected economic growth is in good shape for 2023

In celebration of the success of the FIFA World Cup Qatar 2022, the Ministry of Commerce and Industry (MoCI) paid tribute to the various committees that contributed to the smooth operations during the event. A ceremony was held to honour the Emergency Committee, the Logistics Support Task Force, the Field Monitoring Task Force, the Food Security Operations Room Task Force and so on.

According to HE the Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim al-Thani, “Under the leadership of His Highness the Amir Sheikh Tamim bin Hamad al-Thani, Qatar proved that success is not granted.” He discussed how the hard work and effort of all the teams involved led to the event’s success, and expressed his gratitude to the members of the teams

In other news, Qatar has expressed its plans to utilise its budget surplus via transfer to a general reserve account. This will be made according to the rules of the State Financial System Number 2 of 2015. HE the Minister of Finance Ali bin Ahmed al-Kuwari said to Gulf Times Editor-in-Chief Faisal Abdulhameed al-Mudahka that “While there are goods days, there will be bad days too. We need to be prepared for such situations.” He also added that “Qatar’s credit rating reaffirms financial stability as well as a strong and flexible local economy, both of which attract foreign investments and help reduce the cost of borrowing.”

It’s important to note that the country is expected to hit double-digit growth by the year 2027, with the national economy projected to increase by 4.5% next year according to calculations from the International Monetary Fund (IMF).

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