Al-Raya Praises Success of National Strategy Adopted to Advance Qatari Economy

Doha, July 16 (QNA) - Al-Raya newspaper, issued today, praised the success of the national strategy followed in the country to advance the performance of the Qatari economy, which fortified it from being affected by the consequences of the Coronavirus pandemic, which struck the whole world, and caused recession and economic crises. The newspaper explained, in its editorial, that this strategy has proven successful, saying that the national economy has benefited from the government support incentives that were approved to confront the consequences of the Coronavirus pandemic, and the commercial activity continued despite the challenges, and small and medium enterprises maintained their commercial activity, similar to factories and large companies. Al-Raya stressed that the directives of the wise leadership had a great impact in immunizing the country's economy from shocks, so that Qatar would always remain an attractive investment and commercial destination, which was confirmed by data from Qatar Central Bank, where the Qatari economy, macro and micro, managed to overcome the Coronavirus stage and achieved promising growth rates that lead economies in the region, and which confirmed that the Qatari economy enjoys flexibility, diversity and the ability to face challenges and risks. Al-Raya pointed out in this regard that the figures revealed by Qatar Central Bank, which indicate a significant increase in the volume of commercial banks' assets at the end of last June by about QR 4 billion compared to the previous month, with an annual increase of QR 165.7 billion, at a rate of 10.3 percent, an increase from June 2020, to reach the level of QR 1768.6 billion, confirms the strength of the economy of the State of Qatar and that it is built on correct foundations. Al-Raya stressed that the situation in the State of Qatar is different from many countries of the world, as its economy continued to achieve encouraging growth rates despite the circumstances and closures, as the mentioned data indicate that the total reserves of cash and balances in Qatar Central Bank rose by the end of June 2021 by about QR 1.5 billion from May to the level of QR 87.5 billion, pointing out that the influx of cash flow in banks would enhance the economy and trade, and encourage investment and commercial activity in the country, which will positively reflect on the growth rate in the current year 2021. Al-Raya concluded by emphasizing that Qatar was able to maintain its position as one of the fastest growing economies in the world, with an abundance of investment opportunities in many sectors, which reflects the progressive policies and financial and legislative reforms recently adopted, which had a tangible positive impact, and this is what has been noted by international rating agencies, which confirms the attractiveness of Qatar as an international and regional center for safe investment. (QNA)