The ongoing boycott from the Arab quartet to question Doha’s unending funding of terrorism has led to massive decline in the nation’s economic performance and the fluctuation of the currency.
Here are ways how Qatar’s economy have been affected by the ongoing boycott from the neighboring nation:
- Importing huge quantity of perishable goods such as food items isn’t as easy and possible as it used to be before the boycott.
- Doha Stock Exchange has dropped since the diplomatic crisis emerged.
- Qatar Air’s revenue has plummeted due to lost traffic and idled planes, the cost of diverting flights.
- Qatar has lost its spot as the world’s highest producer of LNG
Economy rating agencies decreased their rating of Qatari bonds after Gulf deposits in some Qatari banks decreased.
The massive deterioration of Doha’s economy is a clear sign that investors should not pledge their money on a failing economy.
This state of the Qatari economy are due to the policies that have been taken by the royal family.