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Middle East and Central Asia > Qatar

You are looking at 1 - 10 of 16 items for :

  • Type: Journal Issue x
  • National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock x
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Cover Selected Issues Papers
Estimating Fiscal Multiplier for Qatar: Qatar
Ken Miyajima
Econometric results suggest that Qatar’s strong capital spending multiplier became less impactful as the stock of capital rose to a high level, likely as the marginal impact declined. This supports Qatar’s strategy to shifts the State’s role to an enabler of private sector-led growth, focusing on expenditure to support build human capital and implementation of broader reform guided by the Third National Development Strategy.
Keywords:
Capital spending; fiscal multiplier; GCC; Qatar; strategy to shift; Qatar's strategy; copyright page; Qatar country dummy; allocation decision; Fiscal multipliers; Current spending; Stocks; Global
Cover IMF Staff Country Reports
Qatar: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
2024 Selected Issues
Keywords:
AI readiness; AI adoption; B. Qatar's progress; artificial intelligence in Qatar; innovation policy; Export diversification; Capital spending; Exports; Human capital; Global; Middle East; Eastern Europe; Europe
Cover IMF Staff Country Reports
Qatar: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Qatar
International Monetary Fund. Middle East and Central Asia Dept.
Growth normalization after the 2022 FIFA World Cup continued with signs of activities strengthening more recently. Fiscal and external surpluses softened mainly due to lower hydrocarbon prices. Banks are healthy but pockets of vulnerabilities remain. Reform momentum has strengthened, guided by the Third National Development Strategy (NDS3).
Keywords:
Qatar national; holdings of SDR; Qatari economy well; headline inflation; hydrocarbon price; Anti-money laundering and combating the financing of terrorism (AML/CFT); Public sector; Capital spending; Global
Cover Selected Issues Papers
2022 FIFA World Cup: Economic Impact on Qatar and Regional Spillovers
Aidyn Bibolov
,
Ken Miyajima
,
Sidra Rehman
, and
Tongfang Yuan
Qatar hosted the 2022 FIFA World Cup (WC) successfully and took the opportunity to further develop its non-hydrocarbon economy. Near-term contributions to Qatar’s economy, from visitors’ spending and WC-related broadcasting revenue, of up to 1 percent of GDP was comparable to cross-country experiences. The event generated positive regional economic spillovers as a sizeable share of spectators stayed in and commuted from neighboring GCC countries. Longer-term contributions were significant—the large investment in general infrastructure ahead of the WC drove much of the non-hydrocarbon sector’s growth in the past decade. The high-quality infrastructure and global visibility brought by the WC should be leveraged to further promote diversification and achieve the National Vision 2030.
Keywords:
Economic diversification; economic transformation; Qatar; structural reform; FIFA World Cup; broadcasting revenue; Qatar's economy; WC spectator; World Cup broadcasting right; Public investment spending; Capital spending; Production growth; Spillovers; Tourism; Global; Asia and Pacific
Cover IMF Staff Country Reports
Qatar: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper aims to identify key reforms to accelerate Qatar’s economic transformation, estimate their impact, and shed light on the design of a comprehensive reform agenda. This paper starts by taking stock of Qatar’s progress in key reforms so far, identifying areas for further improvement, proposing structural reform measures, estimating the impact of key proposed reforms, and providing principles on the prioritization and sequencing of reforms. Qatar’s state-led, hydrocarbon intensive growth model has delivered rapid growth and substantial improvements in living standards over the past several decades. Guided by the National Vision 2030, an economic transformation is underway toward a more dynamic, diversified, knowledge-based, sustainable, and private sector-led growth model. The paper finds that labor market reforms could bring substantial benefits, particularly reforms related to increasing the share of skilled foreign workers. Certain reforms to further improve the business environment, such as improving access to finance, could also have large growth impact. A comprehensive, well-integrated, and properly sequenced reform package to exploit complementarities across reforms could boost Qatar’s potential growth significantly.
Keywords:
FIFA World cup; International Monetary Fund Washington, d.c; World Cup contribution; labor market dynamics; key reform; Labor market reforms; Labor force participation; Women; Climate finance; Global
Cover IMF Working Papers
Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought
Mr. Armand P Fouejieu
,
Mr. Sergio L. Rodriguez
, and
Mr. Sohaib Shahid
This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have declined in recent years which would make the on-going fiscal consolidation less costly than previously thought. Though both capital and current multipliers have declined in recent years, capital multipliers are larger than current multipliers, which implies that reducing (less productive) current spending will help limit the adverse impact of such measures on growth.
Keywords:
WP; government spending; GDP; multiplier; Fiscal Policy; Fiscal Multiplier; GCC; oil GDP; GCC country; spending multiplier; tourism expenditure; spending growth; Capital spending; Current spending; Fiscal multipliers; Fiscal consolidation; Global
Cover Policy Papers
Gulf Cooperation Council: How Can Growth-Friendlier Expenditure-Based Fiscal Adjustment be Achieved in the GCC?
International Monetary Fund
growth in expenditure, GCC governments have started to implement significant fiscal consolidation measures, but more needs to be done. Rapid population growth and booming oil revenues led to large increases in government spending in the GCC in the decade to 2014, which now stands high by international standards. This expenditure is dominated by compensation of employees and other current spending which are large in percent of GDP compared to Emerging Market (EM) countries and other oil exporters. This keeps overall spending above levels consistent with long-term fiscal sustainability and intergenerational equity. The international experience with large fiscal adjustments provides some key lessons for GCC countries. This experience suggests that growth outcomes improve when fiscal adjustments are sustained as part of credible multi-year fiscal plans, rely on expenditure more than revenue adjustment, and lead to improvements in expenditure composition (away from current outlays to more productive spending) and the structure of revenue (away from direct to indirect taxation). Successful fiscal adjustments also tend to be part of wider structural reforms that support growth.
Keywords:
PP; GCC country; government spending; GCC government; wage bill; expenditure adjustment; GCC experience; reform agenda; labor market; Oil prices; Fiscal consolidation; Capital spending; Current spending; Global; Middle East and Central Asia
Cover IMF Staff Country Reports
Qatar: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Qatar
International Monetary Fund. Middle East and Central Asia Dept.
This 2016 Article IV Consultation highlights the adverse impact of lower hydrocarbon prices on the macroeconomic performance of Qatar. Growth has slowed despite still-resilient nonhydrocarbon activity. Real GDP growth of 2.7 percent is estimated for 2016. Inflation remained low despite subsidy cuts, averaging about 2.7 percent in 2016. Growth is expected to slow in the medium term as public investment growth tapers off and hydrocarbon output continues to slow. Further subsidy cuts, a moderate recovery in global commodity prices, and the introduction of a value-added tax are expected to improve the fiscal and external balances gradually over the near to medium term.
Keywords:
ISCR; CR; authority; Qatari authorities; IMF staff estimate; hydrocarbon price; banking system liquidity; exhaustible hydrocarbon wealth; Public investment spending; Oil prices; Government debt management; Global; Middle East; North Africa; East Africa
Cover IMF Staff Country Reports
Qatar: Staff Report for the 2015 Article IV Consultation
International Monetary Fund. Middle East and Central Asia Dept.
This 2015 Article IV Consultation highlights that Qatar is implementing an ambitious diversification strategy, while retaining its systemic role in the global natural gas market. Qatar accounts for one-third of global liquefied natural gas trade and has emerged as an important global financial investor, labor importer, and donor. The authorities are executing a large public infrastructure program to advance economic diversification and prepare for the FIFA 2022 World Cup. The economy has maintained strong growth momentum so far despite the large drop in oil prices since summer 2014. The short-term growth outlook is positive, but lower oil prices will lead to a substantial deterioration of the fiscal and external balances.
Keywords:
ISCR; CR; year-on-year inflation data; data; Tier I capital; GDP; oil price; lower-than-expected oil; financial asset; Oil prices; Public investment spending; Real estate prices; Inflation; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global; Middle East; North Africa; East Africa
Cover IMF Staff Country Reports
Qatar: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Qatar
International Monetary Fund. Middle East and Central Asia Dept.
KEY ISSUES Context. As the world’s largest exporter of liquefied natural gas (LNG), Qatar has turned into an important global financial investor, donor, and labor importer. Growth averaged 14 percent over the past decade and GDP per capita has reached $100,000, the highest in the world. Qatar remains insulated from sluggish global growth thanks to high hydrocarbon prices and a large public investment program to support economic diversification and prepare for the FIFA 2022 Championship. Outlook and risks. Macroeconomic performance is expected to remain strong, driven by the non-hydrocarbon sector which accounts for almost one-half of the economy. Potential challenges include the risk of over-heating in the near term and over-capacity in the medium term as a result of the large public investment program. The possibility of a sharp decline in oil and gas prices remains the main medium-term risk; however, the authorities have ample fiscal and external buffers to deal with contingencies. Risks from public investments. Policymakers need to remain vigilant about overheating risks. Capital spending should be smoothed if signs of overheating emerge, and liquidity withdrawal operations and further macroprudential measures deployed in case of excessive credit growth or risk-taking. A comprehensive public investment management framework would increase the efficiency of public spending and reduce the risk of overinvestment. Fiscal reforms. The authorities have appropriately been saving the large fiscal surpluses, and have started introducing a medium-term focus into the budget process by implementing a three-year budget framework and establishing performance measures. The framework should be accompanied by realistic hydrocarbon price assumptions and a more detailed multi-year expenditure plan. Financial sector. The authorities are implementing an ambitious financial regulatory agenda, including establishing an umbrella advisory committee and issuing a final Basel III circular. Banks remain well capitalized and liquid, but the authorities should continue carefully monitoring vulnerabilities through an enhanced early warning system. Diversification. The authorities are also supporting economic diversification through measures to further financial deepening and private sector development.
Keywords:
ISCR; CR; budget blueprint; staff appraisal; surplus; Qatar