🇶🇦 Economic crisis in Qatar
Government spending cut by 30% and foreign aid by 85% in the wake of the war with Iran, per FT
The war with Iran has severely damaged the Qatari economy, which relies on liquefied natural gas; attacks on Ras Laffan led to a 17% reduction in export capacity, while the closure of the Strait of Hormuz paralyzed exports.
The International Monetary Fund expects Qatar's GDP to shrink by 8.6% during 2026. To maintain liquidity, Qatar is resorting to using its reserves of $500 billion.
@Megatron_ron
Government spending cut by 30% and foreign aid by 85% in the wake of the war with Iran, per FT
The war with Iran has severely damaged the Qatari economy, which relies on liquefied natural gas; attacks on Ras Laffan led to a 17% reduction in export capacity, while the closure of the Strait of Hormuz paralyzed exports.
The International Monetary Fund expects Qatar's GDP to shrink by 8.6% during 2026. To maintain liquidity, Qatar is resorting to using its reserves of $500 billion.
@Megatron_ron