IMF: Qatar’s economy rebounds in ’24

Medium-term growth is expected to average 4.75 per cent, driven by structural reforms under the Third National Development Strategy (NDS3).

The IMF praised Qatar’s fiscal prudence and progress in revenue diversification and budgeting reforms. It urged further efforts to introduce a value-added tax, align energy prices, and enhance spending efficiency to ensure fiscal sustainability and support economic transformation.

Qatar’s banking sector remains robust due to effective Central Bank policies, though the IMF recommended continued vigilance on foreign liabilities and asset quality. Progress in deepening domestic financial markets and combating financial crimes was also commended.

The mission highlighted Qatar’s strides towards a private-sector-driven, knowledge-based economy, emphasising the need to enhance human capital, boost innovation, and leverage AI and digitalisation. The IMF’s full report will be reviewed by its Executive Board in January 2025.