Minister of Finance Says Qatar Achieved Surplus Overall Budget in 2019

Doha, December 09 (QNA) - HE Minister of Finance Ali Shareef Al Emadi said that Qatar's general budget for 2019 which is to be announced in the coming few days, will show an estimated surplus, ensuring the stability and strength of the State's financial situation as well as offering a future perspective that believes in the State's of Qatar capacity to continue to grow and achieve a sustainable development by focusing on developing the Health and Education sectors and by completing infrastructure projects. HE Al Emadi stressed in a speech today, at the opening of the 7th edition of Euromoney Qatar Conference, that the data on the financial and economic sectors during the first six months of 2018 clearly point to a strong national economy, and prove, once more, that the State of Qatar have long overcome the repercussions of the unjust blockade as the GDP has already increased by 5.9 percent in the first half of 2018 compared to the same period in 2017. His Excellency stated that the inflation has continued at reasonable rates, and Qatar's stock market has fully recovered, with its performance rising among the best stock markets since the beginning of this year until now, which reflects investors' confidence in the Qatari economy, as the data provided, again, indicates successful State strategies and plans aimed at building a strong economy. HE the Minister said that the State of Qatar has started several initiatives and measures to develop the business and investment environment, to promote the economic growth and expand the role of the private sector across all fields, including by enacting laws allowing foreign nationals to invest and own enterprises, real estate and permanent residence in Qatar and the Government continues to work and coordinate with the business and investment community to improve businesses and investments as well as to amend legislation and simplify procedures in line with the best international practices, which provides an opportunity to expand businesses across all sectors for local and international investors. HE Minister of Finance added that Qatar National Vision 2030 in its various economic, social, human and environmental pillars is the cornerstone of achieving sustainable development, which the State of Qatar has been working on since the implementation of the first National Development Strategy 2011-2016. This year Qatar started the second National Development Strategy 2018-2022, which aims to promote the role of the private sector and to increase the contribution of non-oil sectors to the productive GDP, Qatar is committed to exerting every effort in order to achieve Qatar National Vision 2030, which aims to position Qatar as a developed country capable of achieving sustainable development and allowing its people a decent living. HE pointed out that Qatar offers many opportunities for investment and business development through initiatives promoting the investment and business environment and establishing free and economic zones that allow for full ownership by foreigners, a legal framework in line with the best practices in international financial centers, and a strong banking sector capable of providing funds for various projects stemming from a belief to strongly support and encourage the private sector to build companies and joint projects with different countries in the world, thus enhancing bilateral relations and benefiting everyone. HE Minister of Finance Ali Shareef Al Emadi asserted that Euromoney Qatar Conference has become an important platform for addressing economic and financial issues in the MENA region, with the participation of selected senior officials, decision makers and experts in the economy and finance sector, expressing the hope that the Conference will achieve the desired results, especially as the topics discussed are receiving attention to explore the prospects of the global economy and the latest developments in the global financial sector, as well as the strategy and plans of the State of Qatar to continue economic growth and achieve comprehensive development in the next phases. (QNA)