​QATAR: A recession may be on us, but doesn’t matter much

GULF COUNTRIES - Report 01 Oct 2019 by Rory Fyfe and Justin Alexander

Qatar’s economy contracted by -1.4% y/y in real terms in Q2 2019 as the three largest sectors - hydrocarbons, manufacturing and construction - all declined. There is likely to also be a contraction in Q3, indicating a technical recession. However, none of this should concern investors too much because the declines are either expected, temporary or due to statistical glitches. The country remains extremely wealthy with major plans to further expand its gas output.

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