Backed by a high credit rating, advanced oil and gas production and storage capacity, and a deep sovereign wealth fund, Qatar was able to tap international debt markets to fund an effective economic response to the pandemic, while its relatively small population was well served by a modern health care system guided by clear government policy geared towards prevention as well as treatment. The country was not only able to withstand the economic challenges of the pandemic better than its GCC peers – with the lowest contraction rate in the region – it is also well placed for recovery, buoyed by rising demand for liquefied natural gas and downstream products in Asia. Looking ahead, the highly disruptive nature of the pandemic is likely to have long-term implications for global supply chains.
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