Al-Raya: National Economy Recovers from Covid-19 Repercussions, Continues to Grow

Doha, July 26 (QNA) - Qatari daily Al-Raya affirmed in its editorial on Monday that the national economy has recovered despite all the challenges that the world faced as a result of Covid-19 crisis. The newspaper said that the country's economy has become stronger than before, as all the prestigious international indicators and reports confirm that Qatar's economy has absorbed the shock and adapted to the requirements of the stage, and was able to overcome risks, and now it continues to grow. In this regard, the paper referred to the PwC Middle East's report, which said that the Qatari economy has shown resilience during the pandemic, and although it faced some challenges during 2020 and the first half of 2021 in light of the repercussions of the decline in oil prices and the impact of the pandemic, the rates of economic recovery are making rapid progress due to a group of factors, including the recovery of energy prices, which exceeded analysts' estimates. The paper underlined that the national economy is strong and built on solid foundations thanks to the progressive policies pursued by the government, noting that the State of Qatar has witnessed an accelerating boom in assets and investment, without neglecting its continuous endeavor to develop the LNG industry. The paper also noted what was confirmed by the PwC Middle East report that as a result of the intensive efforts made by the government, Qatar has shown resilience and emerged stronger from the Covid-19 crisis, adding that more is being done to redefine economic growth models and ensure the country's ability to increase competition in the post-pandemic world. In conclusion, Al-Raya explained that the monetary and financial stimulus packages provided by the State to the private sector amounting to QR 75 billion have contributed to reducing the effects of the pandemic on the economy, pointing out that the packages included many incentives to support small and medium-sized enterprises (SMEs) in the affected sectors, such as hospitality, tourism, retail, malls, and logistics, in addition to providing exemptions on public utility payments. (QNA)