Doha, May 08 (QNA) - In its editorial on Sunday, Al-Raya newspaper highlighted the progressive economic policies and financial and legislative reforms adopted by the State of Qatar, which had a significant impact on the rise in the country's reserves, reflecting the strength of the economy.
The newspaper explained that Qatar Central Bank's announcement reflect the continued growth of international reserves and foreign currency liquidity of the Bank, adding that they amounted to 210.7 billion riyals at the end of April 2022.
It stressed that these numbers and data show the strength and liquidity of the banking sector, which illustrates the strength of the Qatari economy that was built on sound foundations and encourages the promotion and diversification of investment and the establishment of commercial and financial alliances with many global markets.
Al-Raya said that Qatar overcame the consequences of COVID-19 pandemic, which struck the whole world and caused recession and economic crises, but the situation in the State of Qatar is different, as the economy continued to achieve encouraging growth rates despite the circumstances and closures.
The newspaper pointed out that the increase in the official reserves of Qatar Central Bank at the end of April compared to the end of last March from 151 million riyals to 153.42 billion riyals confirms that Qatars economy enjoys flexibility, diversity and ability to face challenges and risks.
Al-Raya stressed that Qatar Central Bank enjoys international reserves and large liquidity in foreign currency that places it in a very comfortable position, enabling it to maintain the stability of the Qatari currency exchange rate, stressing that the reserve money numbers are promising and place Qatar in advanced ranks globally in terms of the strength and durability of the economy, as well as an attractive destination for foreign investments.
It indicated 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 by Qatar, which had a tangible positive impact, The newspaper concluded by saying that our economy achieved great successes because it is based on solid foundations and organized legislation that attracts investment, adding that it is also moving steadily towards a knowledge-based economy and benefiting from the technological infrastructure that encourages entrepreneurship. (QNA)