The measures adopted by Qatar’s government and Qatar Central Bank proved decisive in countering the negative impacts of pandemic and achieving economic recovery, CEOs of multiple Qatari banks said.
They were speaking during their participation in the Euromoney’s Qatar Conference 2022, which began Sunday, according to Qatari media reports.
The CEOs focused on various issues like environmental and social practices, corporate governance, climate change, and the digitization of the country’s financial sector.
CEO of Qatar National Bank (QNB) Abdullah Mubarak Al Khalifa said the pandemic led to turmoil globally.
However, key economic measures by the central bank and government provided support to the global economy, enabling it to counter the pandemic and achieve recovery, he said.
Future prospects of Qatar’s economy are stable, as its banking sector enjoys flexibility and quality with high capital and liquidity, Al Khalifa added.
He noted Qatar National Vision 2030 is supported by a huge program for infrastructure development and investment spending, which aims to transform it into a knowledge-based economy.
The country wants to enhance the contribution of the private sector, and is working to ensure the successful hosting of the FIFA World Cup Qatar 2022.
The CEO of QNB pointed out that Qatar has one of the largest natural gas reserves in the world, and is the main exporter of liquefied natural gas.
He said Qatar had decided to increase its production by 64 percent by 2027 through the expansion of the North Field.
This will ensure the continuity of growth in the country in the medium and long term, Al Khalifa added.
