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Qatari Economy Achieves Real Growth of 8%

This file photo taken on Dec. 20, 2019, shows a view of boats moored in front of high-rise buildings in the Qatari capital, Doha. (AFP)
This file photo taken on Dec. 20, 2019, shows a view of boats moored in front of high-rise buildings in the Qatari capital, Doha. (AFP)
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Qatari Economy Achieves Real Growth of 8%

This file photo taken on Dec. 20, 2019, shows a view of boats moored in front of high-rise buildings in the Qatari capital, Doha. (AFP)
This file photo taken on Dec. 20, 2019, shows a view of boats moored in front of high-rise buildings in the Qatari capital, Doha. (AFP)

The Qatari economy achieved a real growth rate, constant prices, of 8 percent during the Q4 of 2022, year on year, compared to the same period of 2021.

Data revealed by the Planning and Statistics Authority on Tuesday showed that the quarterly gross domestic product (GDP) estimates at constant prices reached about $49.4 billion in the fourth quarter of 2022, compared to the revised fourth-quarter estimates for 2021 of $45.7 billion.

The same data revealed a 2.7 percent increase quarterly, compared to revised estimates for the third quarter of 2022, amounting to $48.1 billion.

The GDP at current prices jumped 26.2 percent annually, reaching $60.5 billion in the fourth quarter of 2022, compared to the revised fourth-quarter estimates for 2021, which amounted to $47.9 billion dollars.

Compared to the revised estimates for the third quarter of 2022, which amounted to $63 billion, the gross domestic product recorded a four percent decrease.

The nominal gross value added (GVA) of mining and quarrying sector activity is estimated at $25 billion, up 43.4 percent, compared to revised estimates for the fourth quarter of 2021, which amounted to $17.4 billion.

The real GVA of these activities is estimated at $17.6 billion in Q4 2022, which shows an increase of 4.8 percent compared to the estimate for Q4 2021, which was $16.8 billion.

Compared to the Q3 2022 revised estimate of $17.6 billion, a decrease of 0.3 percent in the real GVA of this sector was also recorded.

The nominal GVA of non-mining and quarrying activities is estimated at $35.4 billion in Q4 2022, which shows an increase of 16.4 percent over the estimate of Q4 2021, amounting to $30.4 billion.

The previous quarter's Q3 2022 revised estimate of $33.76 billion recorded an increase of 5.1 percent.

The real GVA of non-mining and quarrying activities is estimated at $31.8 billion in Q4 2022, which shows an increase of 9.9 percent over the estimate of Q4 2021, amounting to $28.96 billion. Compared to the Q3 2022 revised estimate of $30.47 billion, an increase of 4.4 percent was also recorded.

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IMF Team Makes First Syria Visit Since 2009

Syrians attend Eid al-Adha prayers in the courtyard of the Tomb of the Unknown Soldier in Damascus, Syria, 06 June 2025. (EPA)
Syrians attend Eid al-Adha prayers in the courtyard of the Tomb of the Unknown Soldier in Damascus, Syria, 06 June 2025. (EPA)
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IMF Team Makes First Syria Visit Since 2009

Syrians attend Eid al-Adha prayers in the courtyard of the Tomb of the Unknown Soldier in Damascus, Syria, 06 June 2025. (EPA)
Syrians attend Eid al-Adha prayers in the courtyard of the Tomb of the Unknown Soldier in Damascus, Syria, 06 June 2025. (EPA)

An IMF team visited Syria for the first time since 2009 to take part in efforts to rebuild the economy after years of civil war and the fall of Bashar al-Assad, the lender said Tuesday.

The International Monetary Fund's trip to Damascus took place from June 1 to June 5, and its team sought to discuss authorities' priorities and how to help achieve them.

Syria's economy and the country are a wreck after 14 years of war under Assad, who was ousted in December.

"Syria faces enormous challenges following years of conflict that caused immense human suffering and reduced its economy to a fraction of its former size," said Ron van Rooden, who led the visit.

Around six million people have fled the country while another seven million have been displaced internally, he noted.

"Output has plummeted, real incomes have fallen sharply, and poverty rates are high," he said, adding that state institutions have also been weakened with much infrastructure destroyed.

"There is great urgency to address these challenges and achieve a sustainable economic recovery," van Rooden said in a statement at the end of the mission.

Much of Syria's infrastructure has been destroyed by the war, which began with a bloody crackdown on peaceful anti-regime protests.

Longtime strongman Assad was ousted in a lightning offensive by opposition factions in December, and Syria's new government has sought to rebuild diplomatic ties, including with international financial institutions.

Last month, the IMF said it had held useful discussions with Syria's economic team.

The Fund's last comprehensive review of the health of the Syrian economy was done in 2009, before the outbreak of the war in 2011.

In April, Saudi Arabia and Qatar announced that they would settle Syria's debt to the World Bank totaling about $15 million.

The World Bank suspended operations in Syria when the war began. The settlement of its arrears will allow it to resume accessing the bank's financial support and technical advice.