Financial analyst Tamer Hassan said that the Ministry of Finance's announcement of a budget surplus of QR89bn in 2022 will have a positive impact of the stock market, expressing his hope that investors will respond to the strong performance of the Qatari economy, as indicated by various macroeconomic indicators.
Hassan told Qatar News Agency (QNA) that the increase in the budget surplus was mainly driven by the increase in oil and gas surplus, saying that these levels of surpluses weren't seen since 2012, 2013, and 2014.
He pointed out that the banking and financial services sector achieved operating returns during the past year of about QR25bn riyals, without considering the results of the newly listed Dukhan Bank, which will also boost the Qatar Stock Exchange.
He said that the banking sector's profits grew 8% last year, driven by QNB.
The financial analyst highlighted that profits for the listed companies grew compared 2021, even though they were below investors' expectations.
Hassan also pointed out that dividends have also increased, but are below bond yields, which is a trend in global equity markets, following interest rate hikes by various major central banks, led by the US Federal Reserve.
He expects the market would regain momentum in the coming period, when companies start reporting Q1 results.
