Qatar Steers Its Way Back to Economic Recovery; Increased Support from Oil Prices and Vaccinations: PwC

Pricewaterhouse Coopers’(PwC) ‘Qatar Economy Watch’ report has noted that Qatar’s economic recovery has gained momentum following the improvement in energy prices and rapid vaccinations of the public.

Why it Matters?

Qatar was severely affected during 2020 and the first half of 2021, following the spread of COVID-19 and drop in oil prices, which caused its economic output to fall by 3.7% in 2020. However, with energy prices recovering faster than predicted and Qatar’s restoration of diplomatic relations with other countries in the region, despite imposed lockdowns in April 2021, Qatar has succeeded in maintaining an average of 54 points for the first quarter of 2021, as per the ‘Purchasing Managers’ Index&rsqu...