Qatar’s projected inflation of 3.3% in 2023 will be much lower than the estimated global inflation of 6.5% in 2023, HE the Minister of Finance Ali bin Ahmed al-Kuwari said.
“Ours is at a very manageable level. Our level of inflation is a dream to many countries, especially those in the EU (European Union) and the United States, which are currently seeing very high inflation,” al-Kuwari said at a media event Tuesday.
“We have taken effective measures to maintain low inflation rates. These include capping fuel prices, subsidising food and beverage products and exempting imported products from custom duties,” al-Kuwari said.
However, he emphasised that tackling “imported inflation” will be a challenge, given Qatar’s imports of significant quantities of food and other essential items.
“Globally, inflation has spiked due to supply chain constraints following the pandemic and the current crisis in Ukraine,” al-Kuwari noted.
