How MBS’s Blockade Not Only Failed to Achieve Its Goals but Backfired

In the initial weeks after the blockade was announced, Qatar’s imports dropped nearly 40 percent from the same time a year earlier.  Today those numbers have returned to normal as Doha, the world’s top exporter of liquefied natural gas, responded by developing new trade routes, propping up its banks with state money and helping local firms develop domestic output of some goods – including food. Qatar has also begun to develop the world’s largest LNG field that it shares with Iran in the Persian Gulf

 

According to an International Monetary Fund report from March, Qatar’s banking system has recovered from initial outflows and the economy is expected to grow 2.6 percent this year – compared to 2.1 percent in 2017. Even the country’s fiscal deficit is estimated to have narrowed to about 6 percent of gross domestic product in 2017 from 9.2 percent in 2016 , the IMF said.

Noting improvements in their human rights record, the article notes…

The reforms include legislation that would improve labor standards for migrant workers, including a domestic workers law, and a draft law granting permanent residency to children born to Qatari mothers and foreign fathers and to some foreign residents living in the country.

You can read more at Haaretz, here.