The economic policies pursued by the State of Qatar have proven their effectiveness during the Covid-19 pandemic, as the Qatari economy was able to overcome the negative effects of the health crisis and maintain its flexibility and continue to attract more investment, said Qatar Chamber general manager Saleh bin Hamad al-Sharqi.
Economic activity began to return to pre-Covid levels, prompted by the financial package approved by the government with the aim of helping the private sector overcome the crisis, al-Sharqi told Qatar News Agency (QNA).
Qatar's moves to diversify its economy have also contributed to facing economic crises and challenges, including investment in vital and important sectors, such as health and technology, development of free zones, and the continuation of giant infrastructure projects such as the expansion of Hamad International Airport (HIA) and Hamad Port, which will entrench the country's economic openness, the QNA interview stated.
Al-Sharqi also lauded the laws and legislation approved by the state during the past few years, stressing that these had contributed to preventing major impacts on the economy and helped to overcome the crisis with minimal losses, especially the Public-Private Partnership (PPP) Law, the Investment of Non-Qatari Capital Law, and other important legislation.
Qatar's various economic indicators confirm that the measures taken, the stimulus packages provided, and the fiscal policies pursued, as well as the improvement in oil prices, “have reflected positively at various economic levels.”
Data from the Ministry of Finance (MoF) showed that the balance of the state's budget shifted from a projected deficit to a surplus of about QR0.2bn, in order to improve the efficiency of spending that coincided with the promotion of revenue collection, which in the first quarter of 2021 amounted to QR45.2bn, while total expenditure amounted to QR45.0bn for the same period.
Many indicators also show that the Qatari economy “is on the way to recovery and in a record period,” as the data of the Planning and Statistics Authority revealed that the trade balance of the State of Qatar achieved during the first quarter of this year reached a surplus of QR39.9bn, compared to the surplus of the trade balance for the first quarter of last year, which amounted to QR33.6bn.
Qatar's moves to diversify its economy have also contributed to facing economic crises and challenges, including investment in vital and important sectors, such as health and technology, development of free zones, and the continuation of giant infrastructure projects such as the expansion of Hamad International Airport (HIA) and Hamad Port, which will entrench the country's economic openness, the QNA interview stated.
Al-Sharqi also lauded the laws and legislation approved by the state during the past few years, stressing that these had contributed to preventing major impacts on the economy and helped to overcome the crisis with minimal losses, especially the Public-Private Partnership (PPP) Law, the Investment of Non-Qatari Capital Law, and other important legislation.
Qatar's various economic indicators confirm that the measures taken, the stimulus packages provided, and the fiscal policies pursued, as well as the improvement in oil prices, “have reflected positively at various economic levels.”
Data from the Ministry of Finance (MoF) showed that the balance of the state's budget shifted from a projected deficit to a surplus of about QR0.2bn, in order to improve the efficiency of spending that coincided with the promotion of revenue collection, which in the first quarter of 2021 amounted to QR45.2bn, while total expenditure amounted to QR45.0bn for the same period.
Many indicators also show that the Qatari economy “is on the way to recovery and in a record period,” as the data of the Planning and Statistics Authority revealed that the trade balance of the State of Qatar achieved during the first quarter of this year reached a surplus of QR39.9bn, compared to the surplus of the trade balance for the first quarter of last year, which amounted to QR33.6bn.