{"id":359038,"date":"2023-11-21T20:47:29","date_gmt":"2023-11-21T23:47:29","guid":{"rendered":"https:\/\/anba.com.br\/qatar-domestic-demand-tourism-drive-growth\/"},"modified":"2024-03-22T17:06:45","modified_gmt":"2024-03-22T20:06:45","slug":"qatar-domestic-demand-tourism-drive-growth","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/qatar-domestic-demand-tourism-drive-growth\/","title":{"rendered":"Qatar: Domestic demand, tourism drive growth"},"content":{"rendered":"<p>S\u00e3o Paulo \u2013 One year after the strong growth driven by the World Cup, Qatar\u2019s economy \u201cis normalizing\u201d with a \u201cfavorable\u201d medium-term outlook, according to a statement by the International Monetary Fund (IMF) staff team led by Ran Bi. They met with local authorities in Doha from November 1 to 14. After the visit, they released an analysis of the Gulf country\u2019s economy this Tuesday (21). <em>(Pictured above is the Qatari capital, Doha.)<\/em><\/p>\n<p>According to their conclusions, Qatar\u2019s economy is expected to grow at an average rate of 5% a year in the medium term, supported by the expansion in liquefied natural gas (LNG) production and \u201creform efforts\u201d to achieve the National Vision 2030 \u2013 a set of goals for modernization, economic growth, and increased quality of life. In the fund\u2019s assessment, hydrocarbon output is expected to increase by 1.75%, and the non-oil sector could expand by 2.75%, driven by domestic demand and tourism, a legacy of the 2022 World Cup.<\/p>\n<p>\u201cQatar is at an important juncture in shifting its growth model from one that is led by the state to a more dynamic and market-oriented one driven by the private sector Building on the progress made so far, and guided by upcoming Third National Development Strategy (NDS3), reforms should focus on enhancing human capital, labor market dynamism, and business environment,\u201d said the IMF\u2019s release.<\/p>\n<p>The entity also said that the Qatar Central Bank (QCB) has managed to maintain prices and financial stability and noted that inflation has moderated due to a \u201ctightening\u201d in tandem with monetary policy adopted by the United States Federal Reserve. \u201cContinued diligence is critical to enhance banking sector resilience, complemented by reforms to deepen domestic financial markets further, as envisaged in the upcoming financial sector strategy,\u201d said the fund\u2019s release.<\/p>\n<p><strong>Libya<\/strong><\/p>\n<p>In an assessment of Libya\u2019s economy, another IMF team concluded that despite the September floods, the outlook for the country\u2019s medium-term growth remains \u201cpositive, given the North African country\u2019s economy is largely dependent on oil and gas production.\u201d<\/p>\n<p>A statement released on Monday (20) by the fund said, however, there is an \u201curgent need\u201d for a \u201cclear economic vision\u201d for the country. In the medium term, the IMF said, Libya needs to diversify its economy away from hydrocarbons and promote growth through a strong and inclusive private sector.<\/p>\n<p><strong>Translated by El\u00fasio Brasileiro<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IMF mission anticipates normalization of growth one year after the strong performance resulting from the World Cup and estimates that the country\u2019s economy could grow by 5%.<\/p>\n","protected":false},"author":2316,"featured_media":357318,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[12737,2780,27134,550,28576,28578,11959,2781,1988,5431,32775,6949,1964,11961,510],"class_list":{"0":"post-359038","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-catar-ar","9":"tag-crescimento","10":"tag-economia-en","11":"tag-economy","12":"tag-fmi-en-2","13":"tag-fundo-monetario-internacional-en","14":"tag-gas-ar","15":"tag-growth","16":"tag-imf","17":"tag-international-monetary-fund","18":"tag-libia-en","19":"tag-libya","20":"tag-oil","21":"tag-petroleo-ar","22":"tag-qatar"},"wps_subtitle":"The IMF mission anticipates normalization of growth one year after the strong performance resulting from the World Cup and estimates that the country\u2019s economy could grow by 5%.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/359038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=359038"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/359038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/357318"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=359038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=359038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=359038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}