Featured by OBG
Despite heightened regional uncertainty stemming from the 2026 Iran conflict, Qatar continues to demonstrate economic resilience, supported by its position as one of the world’s leading LNG exporters, strong fiscal fundamentals and prudent policymaking. While short-term disruption has affected energy exports, trade and logistics, the country remains committed to advancing the objectives of Qatar National Vision 2030 and the Third National Development Strategy 2024-30 through sustained investment, economic diversification and structural reform. Continued progress across finance, industry, digital technology, infrastructure and tourism is reinforcing Qatar’s long-term competitiveness, while its growing diplomatic and economic influence strengthens its position as a trusted regional partner and global investment destination.
Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen projects across a range of sectors come to fruition in the last several years. While at present the twin crises presented by the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.
Qatar has demonstrated considerable resilience in recent years, successfully developing new homegrown industries while at the same time strengthening its global ties. Although Covid-19 has introduced significant economic uncertainties in 2020, a rapid response from Qatar's authorities to curb the effects of the virus should stand the nation's economy in good stead over the medium and long term.
Morocco’s economy is poised to continue along its trajectory of economic growth, but GDP expansion rates will depend on the policy choices made by the government. Although estimates by the IMF project that annual growth rates will reach 4.5% in 2024, there is still the matter of ensuring that GDP growth translates into improving conditions across all segments of the population.
Trinidad and Tobago is the largest producer of oil and gas in the Caribbean; however, like many hydrocarbon-producing nations worldwide, the slump in global energy prices beginning in 2014 negatively affected broader growth. While there is a need to diversify the economy away from its dependence on hydrocarbons, a number of new oil and gas discoveries in late 2019 appear set to support a short-term recovery in the energy sector and lend financing to the wider economy.
The government of President Nana Akufo-Addo assumed power on a promise to take “Ghana Beyond Aid”, and is pushing ahead with initiatives to formalise the economy, diversify its manufacturing base and overhaul its taxation structure. Ghana’s ability to retain fiscal discipline will be tested, with election-related expenditure expected to increase in the run-up to the 2020 poll.
