Qatar Witnessing Strong Economic Recovery, Long Term Prospects Bright: Qatar Financial Centre

Qatar’s economy has shown unmatched progress in the region, indicated through a consistent rise in the Purchasing Manager’s Index (PMI), which increased to 52.5 in November 2020 (from 51.5 in October 2020 and 51.4 in September 2020), according to Thaddeus Malesa, Senior Economic Advisor at the Qatar Financial Centre. This was supported by a significant increase in new orders driven by improved operating conditions, strong business expectations, and realised transactions in the non-energy private sector.

Malesa also stated that Qatar’s LNG, crude oil, condensates, and related products have performed well during the pandemic, with the energy sector’s resilience evident in the fact that Qatar had to only close down 1.3% of crude oil production over the COV...