Qatar Football World Cup: Growth in gas production to accelerate Qatar’s growth by 3.8% effect on Qatar World Cup 2022 tourism
Qatar’s economy is facing a crisis and declining oil prices, with the country’s Great Domestic Product (GDP) expected to grow by 3.8 percent by 2022, supported by rising gas production and a sharp rise in FIFA World Cup 2022 Tourism receipts scheduled for November 21 to December 18, 2022. In the past report of Institute of International Finance (IIF).
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The Qatar World Cup sees 16 teams from the Arab world come together to compete. This 19-day extravaganza offers a great opportunity for countries and spectators alike to experience the spirit of Qatar and the stadiums that will host the Qatar football World Cup 2022.
The Arab Cup offers Qatar a great opportunity to showcase its modern facilities to Football World Cup-loving spectators in Qatar caught in the crossfire. After a series of exciting qualifying matches, which brought joy to the winning teams and their supporters, the much-anticipated tournament kicks off on November 30. 16 countries from across the region will compete in the group stage. This will be followed by do-or-die knockout games. The Arab world champions will be crowned Final on December 18. For more to know about Qatar World Cup Tickets Click here.
We look forward to a decent economic recovery in 2021 aimed at strengthening oil and gas prices, the revitalization of domestic needs due to the progress made in vaccination. The banking system has always been resilient in the midst of the epidemic, aided by the first sound positions and payments. We expect the financial balance to exceed the major surplus by 2021 and 2022 as the increase in hydrocarbon revenues will exceed the expected increase in inflation.
The gradual consolidation of funds beyond 2021 could help save the resources of the public sector as a whole, the report said. It indicated that further recovery is expected to accelerate by 2022 as the third wave of the epidemic subsides. COVID-19 drugs have become widely available and the cuts in oil production have progressed in line with the OPEC + agreement. However, a sustainable recovery is not guaranteed as long as parts of the Gulf Cooperation Council (GCC) community are constantly affected by the virus and its mutations.
We expect the GCC to grow by 1.7 percent by 2021 and 4.2 percent by 2022, added the IIF. High-frequency indicators, including the Individual Purchase Index (PMI) and credit in the private sector, point to the strong recovery in the private sector, particularly in Saudi Arabia and Qatar. Real GDP growth in Hydrocarbon is projected to be 5 percent by 2022 with the assumption that OPEC + production output is only mid-2022.
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