Qatar's economy to grow 6.5 per cent by 2027 on LNG expansion: World Bank

Arabian Business

5 hours ago

Qatar's economy is set to accelerate significantly over the next two years, with growth projected to rise from 2.4 per cent in 2025 to an average of 6.5 per cent in 2026–2027, according to the World Bank's Gulf Economic Update.
The sharp rise in growth will be driven primarily by the North Field LNG expansion, which is expected to boost Qatar's liquefied natural gas (LNG) output by 40 per cent, transforming the country's hydrocarbon sector performance.
While hydrocarbon growth is expected to remain modest at 0.9 per cent in 2025, the World Bank anticipates a major turnaround once the new LNG capacity comes online, cementing Qatar's position as a global energy leader.
Qatar economic growth
In parallel, non-hydrocarbon sectors such as education, tourism, and services continue to show strong momentum, supported by infrastructure investment and international partnerships. This diversification effort is central to Qatar's long-term economic vision.
Key insights from the World Bank report:
Qatar's economic growth: 2.4 per cent in 2025, rising to 6.5 per cent in 2026–2027
Gulf-wide GDP: Projected to reach 3.2 per cent in 2025 and 4.5 per cent in 2026
Non-oil growth across the GCC: Driven by structural reforms, investment, and private sector activity
2024 regional growth: Improved to 1.7 per cent, up from just 0.3 per cent in 2023
Despite the upbeat forecast, the World Bank cautioned that global trade tensions and potential economic slowdown remain risks for Gulf economies. To safeguard future prosperity, it urged continued focus on economic diversification, innovation, and youth job creation.
Division Director for the GCC countries at the World Bank Safaa El Tayeb El-Kogali said: 'The resilience of GCC countries in navigating global uncertainties while advancing economic diversification underscores their strong commitment to long-term prosperity.
'Strategic fiscal policies, targeted investments, and a strong focus on innovation, entrepreneurship, and job creation for youth are essential to sustaining growth and stability'.