World Bank forecasts 2.8 percent growth for Qatar's economy in 2025
The Peninsula
Washington: The World Bank expects Qatar s real GDP growth to reach 2.8 percent in 2025, with public fiscal surpluses remaining strong. The World B...
Washington: The World Bank expects Qatar's real GDP growth to reach 2.8 percent in 2025, with public fiscal surpluses remaining strong.
The World Bank's report, released on Thursday under the title "Digital Transformation in the Gulf: A Powerful Driver of Economic Diversification," states that non-oil sectors in Qatar have maintained their strength even amid declining oil and gas prices. It adds that the expansion of the North Field will drive a substantial increase in liquefied natural gas (LNG) production, further strengthening Qatar's role in meeting global market needs.
The report highlights three key themes: the evolution of economic diversification indicators over the past decade; tracking macroeconomic developments; and spotlighting digital transformation, all against a backdrop of global uncertainty and oil market volatility.
The report reviews the progress of economic diversification efforts across GCC countries over the past decade, noting moderate advancement, with some promising recent indicators. However, the report stresses that the oil sector still dominates, shaping economic conditions, development strategies, and national plans. Meanwhile, non-oil exports remain modest, with chemicals topping the list, indicating that the process of shifting away from oil dependence still requires sustained effort.
The report also highlights the rapid digital transformation underway in the Gulf and the accelerated adoption of artificial intelligence. GCC countries boast high-quality telecommunications networks, with over 90 percent 5G coverage and affordable high-speed internet. Significant investments in data centers and high-performance computing are strengthening AI readiness. Progress is further supported by robust ecosystems of incentives, finance, and innovation, as well as the adoption of generative AI applications within government operations.
