Recently, The Economy Club launched a survey to discover more about the current state of the economy in Qatar. The survey targeted people in Qatar. The results of the survey show that the economic condition of the Middle Eastern nation is quite poor indeed.
73.5% of the correspondents have stated that they have not noticed any improvement in the quality of food or consumer goods despite the increase in prices over a year ago.
82.1% stated that their daily lifestyle has been affected by the increase in prices.
88.9% have said that one of the biggest challenges in the construction sector of the country is the lack of materials and the high prices. 83.8% feel that construction material costs have reached shockingly high prices between 2017 and 2018. 74.4% have noticed a drop in foreign investments in Qatar in the last year.
80.3% Say that the increase in residential rental rates at the start of 2018 resulted in a reduction of bank savings. These statistics underline how poor the economic condition of Qatar has become.
Currently, the currency with the worst performance in the world is the Qatari riyal. Additionally, the banking system of the nation has experienced a severe impact due to the boycott. This, in turn, has put pressure on the deposits and funds.
The depreciation of the Qatari economy has forced global banks to avoid dealing with banks in the nation. According to experts, the current state of the economy is certain to have an effect on the citizens.
This is all due to the policies are undertaken by the ruling regime of the nation.
The fact is that globally, countries are gearing up to fight terrorism. However, Qatar is continuing to support terrorism and extremism through funding and in other ways. As a result, it is now finding itself in quite a bit of a mess.