Al-Raya Emphasizes Strength and Resilience of Qatari Economy, Its Ability to Face Challenges

Doha, August 04 (QNA) - In its editorial Wednesday, Al-Raya newspaper said that despite the challenges that the world faced as a result of the repercussions of Covid-19 pandemic, the Qatari economy has gained strength and solidity more than before. This was affirmed by the Chamber's monthly economic newsletter, which revealed that the private sector trade in May 2021 exceeded QR 2.57 billion, showing a month-on-month increase of 24.20%, compared to QR 2.069 billion in April, while on a year-on-year basis it increased by 321 percent compared to QR 0.609 billion as in May 2020, the paper said, noting that this increase demonstrated that the national economy has recovered from the repercussions of the coronavirus pandemic and showed that the Qatar's private sector has exceeded its pre-pandemic levels, as in n May, private sector exports grew by 31.6 percent, compared to February 2020. The private sector has become an active partner in the sustainable development witnessed by the State of Qatar in various development sectors, the paper said. The private sector projects serve the country's development process and the success in this is due to the State's strategy in stimulating the private sector and giving it priority to implement major projects in the country, Al-Raya noted. At the time of Corona pandemic, the wise leadership was keen to protect Qatar's economy from its consequences and the monetary and financial stimulus packages provided by the State to the private sector, amounting to QR 75 billion, contributed to limiting the effects of the Corona virus on the economy, the newspaper said. Al-Raya concluded its editorial by saying that the State of Qatar continues to accelerate the implementation of its economic diversification strategy, which has begun to bear fruit by making Qatar an important financial hub in the Middle East and the world. (QNA)