Qatar continues to grow with fiscal stability

 07 Dec 2017 - 12:00

Qatar continues to grow with fiscal stability
Khalaf bin Ahmed Al Mannai, Undersecretary of the Ministry of Finance Qatar (second left) with other officials at the opening session of the 10th Annual Meeting of the Middle East and North Africa Senior Budget Officials in Doha yesterday. (Pic: Abdul Basit / The Peninsula)

By Mohammad Shoeb / The Peninsula

Qatari economy has managed to grow and maintain monetary and fiscal stability despite multifaceted challenges, such as volatile energy prices, global economic slowdown and the recently imposed unjust blockade, a top official at the Ministry of Finance noted at the 10th Annual Meeting of Senior Budget Officials from the Middle East and North Africa (Mena) region and OECD countries.

Khalaf bin Ahmed Al Mannai, Undersecretary of the Ministry of Finance, in his keynote address at the opening session of the meeting said: “2017 has been a year of immense change, and several business and economic reforms have been implemented. The annual OECD-Mena meeting is a great opportunity for the MENA region to come together, create dialogue, and learn from one another.”

Al Mannai added: “This meeting presents an important opportunity to discuss various approaches to dealing with these challenges. We look forward to producing proposals and recommendations to strengthen cooperation between Mena countries and OECD members as we work to sustain financial stability and promote economic growth.”

During the two-day meeting senior public sector officials and budget experts will discuss and exchange ideas on several key topics such as regional challenges and opportunities, as well as efforts to enhance the efficiency of public spending, cope with global economic uncertainties and maintaining growth rates at acceptable levels.

Hosted by the Ministry of Finance, the meeting provides a unique opportunity for dialogue and interaction, to share policy experiences and discuss budgetary issues between decision-makers in the Mena region and and the Organization for Economic Cooperation and Development (OECD).

Highlighting Qatar’s economic reforms and other robust macroeconomic fundamentals, Al Mannai said that successful policies have propelled Qatar to second place globally in terms of providing a stable macroeconomic environment, 8th place on the Global Competitiveness Index 2016 Report.