TLDR
📊 Qatar’s economy to grow 6.5% on average in 2026–2027, per World Bank
⛽ LNG expansion via North Field to fuel 40% boost in output
🏗️ Non-oil sectors such as tourism, education, and services drive stability
📈 2025 GDP forecast holds steady at 2.4% before major 2026 surge
🌍 GCC-wide growth projected at 3.2% in 2025, rising to 4.5% in 2026
💡 Infrastructure upgrades and FDI support robust non-hydrocarbon gains
⚠️ Global trade uncertainty remains a key downside risk
🚀 Diversification, innovation, youth employment central to long-term strategy
DOHA (The Thursday Times) — Qatar’s economy is expected to gain strong momentum in the coming years, with the World Bank projecting growth to hold steady at 2.4% in 2025 before surging to an average of 6.5% across 2026 and 2027. This sharp uptick will be driven primarily by a planned 40% expansion in LNG output as the North Field megaprojects come online, reshaping the country’s hydrocarbon trajectory.
The latest Gulf Economic Update from the World Bank highlights Qatar’s resilience in maintaining solid non-hydrocarbon growth, especially in education, tourism, and services. While the hydrocarbon sector will grow modestly in 2025 at just 0.9%, the energy boom slated for 2026 is expected to sharply elevate GDP, reflecting Qatar’s long-term investment in LNG infrastructure and export capacity.
Infrastructure upgrades, strategic foreign investments, and policy stability continue to fuel robust non-oil activity, which remains central to Qatar’s growth story. These developments come as part of a broader regional trend, with GCC economies collectively projected to grow 3.2% in 2025 and 4.5% in 2026, supported by the phased rollback of OPEC+ oil cuts and sustained expansion in diversified economic sectors.
The World Bank notes that regional GDP growth rebounded to 1.7% in 2024 from just 0.3% in 2023, underscoring the growing strength of non-oil sectors, which expanded by 3.7% on the back of strong private consumption, investment, and structural reforms. However, global trade volatility and the spectre of an economic slowdown pose persistent risks. To address these, the report calls on GCC states to double down on diversification and reinforce regional trade linkages.
Safaa El Tayeb El-Kogali, the World Bank’s Division Director for GCC countries, emphasised that the Gulf’s ability to weather global uncertainty while advancing reform is a testament to its long-term strategy. She stressed that continued progress hinges on sound fiscal management, strategic investment, and targeted support for innovation and youth employment.
