Qatar’s growth rate for 2017 remained almost unchanged from the previous year despite the blockade.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Qatar has weathered the economic impacts of a stifling Saudi-led blockade, maintaining healthy growth, but some sectors continue to pay the price a year after the crisis erupted. On June 5, 2017, Saudi Arabia, the United Arab Emirates and Bahrain – all partners of Qatar in the Gulf Cooperation Council – along with Egypt, severed ties with Qatar.Crisis 'opportunity' Despite the drop in oil revenues, Qatar achieved a growth rate of 2.1 percent in 2017, almost unchanged from the previous year, and is forecast to rise to 2.6 percent this year, according to the IMF.The blockade's negative impacts on Qatar were in real estate, tourism and Qatar Airways, which is expected to announce large losses because of longer routes.According to Capital Economics, in the first six months of the blockade, visitors to Qatar dropped by 20 percent, flights into Doha by 25 percent, and Qatar Airways flights by 20 percent.
FOLLOW THIS ARTICLE