This anticipated growth is more likely the result of the expansion of non-oil sectors within the country.

In the coming year, the economy is expected to grow by 2.2 per cent, driven by a rise in hydrocarbon output and continued recovery in the non-oil sector.

This will be supported by improved monetary conditions and increased government support.

The report notes that while there was a slowdown in real GDP growth last year, Qatar’s projected 1.8 per cent increase for 2024 is a revision down from an earlier forecast of 2.2 per cent.

The real GDP of a country is a measurement that takes inflation into consideration when calculating GDP.

This adjustment reflects weaker-than-expected growth in 2023 and a decline in mining activity during the first half of 2024.

However, economic analysts anticipate that high-frequency data will bolster non-oil activities, leading to a recovery in economic performance compared to last year.