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Business and Finance

Strong Recovery in Non-Oil Business Activities

07 Jan, 2021 09:55 AMAl Raya NewspaperIntended Audience
Visitor: Business Owner
Citizen: Business Owner, Employee

News Details

Qatar Financial Centre (QFC) confirmed that the economy of private sector companies not linked to energy has ended the year 2020 with a new growth rate higher than the study average in the long term.

HE Alsheikha Alanoud bint Hamad Al Thani, QFC Managing Director, said Qatar procurement managers index recorded a high reading in December 2020, indicating that the economy of private sector companies not linked to energy has continued to expand at a relatively strong pace.

HE explained that commercial businesses improved in H2 of 2020 steadily after the severe recession they witnessed in Q2 of the same year due to the closure measures taken to limit the spread of the COVID-19 pandemic, while the quantities of unfinished business increased in addition to that. The pace is the fastest in two and a half years, which bodes well for Q1 of 2021.

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