Doha, October 28 (QNA) - Al-Raya newspaper hailed in its editorial Wednesday the strong foundations of Qatar's economy, the best in the region in terms of numbers, thanks to the growth rates, continuity and availability of liquidity for Qatari companies and the high solvency that characterizes them.

In this regard, the newspaper pointed out that the states merchandise trade balance achieved a surplus of 6.4 billion riyals last September, by 13.4 billion for exports and 7 billion for imports. This confirms the strength of the Qatari economy despite the international circumstances from the Coronavirus pandemic outbreak.

In light of sharp decline in international oil prices, Qatar's general and foreign budget are still strong currently. This protected it from shocks due to the success of the economic plans and reforms and encouragement of investment, which are included in the National Development Plan of Qatar 2030 Vision, which aims to diversify the economy away from dependence on the hydrocarbon sector, Al-Raya noted.

The monetary and financial stimulus packages provided by the state to the private sector of 75 billion riyals have contributed to mitigating and limiting the effects of the Coronavirus on the economy. The package included many Stimuli; stimuli to support small and medium-sized companies operating in the affected sectors, including hospitality, tourism, retail, and complexes, in addition to commercial and logistics services, plus six-month exemptions on utility payments, the newspaper added. It referred to the recent praise of the Qatari economy by the Arab Monetary Fund, which confirms the promising future prospects for the country's economy despite the challenges and great repercussions of the Coronavirus crisis on the global economy.

The newspaper concluded its editorial by saying that Qatar is proceeding with full confidence and steadfastness in implementing its strategic, developmental and infrastructure projects, which confirms the availability of liquidity in the state. (QNA)