Economic and financial experts and analysts have noted the importance of the financial data for the first quarter of the state’s general budget for the current year, which reflects the success of the State of Qatar in achieving a financial surplus despite the economic challenges emerging over the past year due to the emerging Corona virus pandemic “Covid 19” and the drop in oil prices during the past year. .

They also noted the importance of continuing spending on major projects while achieving efficiency in spending and better managing the operational cost of all projects, stressing in the same context the importance of awarding new contracts with a value of about 4.6 billion riyals, which would have a direct reflection on stimulating business and activities. The private sector during the coming period, as it constitutes a real message to continue commitment to implementing projects in the country in addition to supporting the private sector to contribute to a large increase in non-oil revenues, which have registered remarkable growth during the past periods, considering that this contributes to achieving economic diversification, which the state laid down its plans. For years, it has made great strides in implementing its strategy, in a way that contributes to supporting all non-oil revenues in the future.

They also considered that the financial data for the first quarter of the state’s general budget for the current year would contribute to strengthening the outlook for the Qatari economy, in addition to the possibilities for upgrading the state’s sovereign ratings, especially as it succeeded in facing all challenges and was able to achieve economic stability.

Behzad: The financial statements reflect the strength of the financial position

Engineer Ali Abdullah Behzad said that the statement of the first quarter of 2021 on the general budget confirms the strength of the state’s financial position, and that the revenues and expenditures allocated to major projects indicate that attention is paid to the productive and societal sectors that affect living and commercial life.

He added that the state’s budgets over the past years pay great attention to the productive, service, industrial and commercial sectors, and focus on vital projects, and every year there is a surplus in budgets that avoids the state’s financial deficit.

In his speech to “Lusail”, he also referred to the expectations of the global financial centers that the Qatari economy will recover from the repercussions of the epidemic, especially after the state was able to overcome all challenges by supporting a package of incentive and logistical measures that were presented to it.

He explained that in every budget, infrastructure, education, health and industry projects top the priorities of the state and provide it with all technical support according to a balanced strategy that combines avoiding negative aspects, providing aid to companies and productive sectors, facilitating expenditures and achieving flexibility in the loans granted to them and keeping pace with the global economy and its variables. Spending more than 15 billion riyals on vital projects and awarding new projects confirms that the wheel of growth is proceeding at a steady pace, driven by state stimulus, and based on graphic indicators that diagnose the economic reality and foresee the future so that projects do not falter, as happens in many countries that have been negatively affected by the effects of the epidemic on their economies. ».

In his speech, he stressed that despite the financial burdens on the health, education and infrastructure sectors, the state is keen to spend generously on these sectors as it is an effective engine of development and promises good after financial estimates confirming the recovery of oil prices and the improvement of the economic environment with a gradual return to growth.

He noted the keenness to complete work on vital projects, foremost of which is the food security project, the light transport train project, the Sabah Al-Ahmad Corridor, and the old Doha Port, as well as the ongoing infrastructure projects of roads, tunnels, parks, health and service centers and others.

He praised the state’s good drawing of a clear-cut strategy at the end of each year through which it defines the mechanisms of action through new packages of financial and logistical stimulus for companies and factories, with the aim of preserving the resilience of the local economy and its adaptation to global fluctuations, as well as achieving financial strength that will be a driving force for companies.

Mallah: The awards of new projects raise the hopes of investors

Murad Mallah, an economist, said that without a doubt, the statement, which carried reassuring news regarding the financial performance of the first quarter of 2021, and how it is expected that the budget for this year will achieve a surplus, and that spending continues through awarding projects to the Qatari private sector, is a confirmation Certainly and reiterated that the government continues to support the private sector by renewing confidence on every occasion by awarding important contracts and projects to both parties. This step is added to a series of measures taken by the government in terms of supporting the private sector on various occasions through financing portfolios, loan deferrals and many exemptions, foremost among them. Electricity.

He expressed his belief that these new awards revealed by the financial statement are important from several aspects first, as it enhances confidence and creates an atmosphere of certainty and positivity that the market needs, especially during this period, which will be reflected on the performance of the Qatari stock exchange and the economic climate in general, as well as the fact that it raises the hopes of investors and various actors in the region. The economy in that it comes after difficult periods that the global economy and the region as a whole is going through, in light of a pandemic that has affected many sectors as a result of the economic closure associated with health measures and thus the decline in demand even with the availability of supply, and its importance lies in being a real opportunity for the private sector to complete its recovery, especially in light of Consumption levels expected to return to pre-pandemic levels.

He added, “In fact, the continued spending on projects by the government and the increasing reliance on Qatari private sector companies for implementation also confirms the eligibility of this sector in government confidence, especially since it is now accumulating great experiences in projects of international level and standards, most of which may be related to hosting the World Cup and infrastructure projects. He also confirms that the government strategies that are based on strengthening the partnership between the public and private sectors have become a reality that has elevated the level of achievement and implementation in a win-win equation, all of which ultimately enhance the attractiveness, growth and diversity of the Qatari economy.

Jaouni: Several positive points during the first quarter

Samer Al-Jaouni, a financial expert, said in his interview with “Lusail” that the report issued by the Ministry of Finance containing the financial statement on the budget of the first quarter of the current fiscal year included many positive points, foremost among which is that the State of Qatar has succeeded in facing all the challenges that occurred last year, chief among them the decline The gross product last year, as the percentage recorded in the State of Qatar was the lowest in the world, where the rates of contraction in the world last year exceeded levels of 5 and 6 percent in the world, while in the State of Qatar it did not exceed 3.7 percent, and this is positive despite the decline in global demand On oil, but this decline did not affect the rates of growth in the Qatari economy.

Financial expert Samer al-Jaouni said that the financial revenues during the first quarter of this year were important, especially with regard to non-oil revenues, as there was a focus on non-oil revenues, which increased by 22 percent, and the revenues during the first quarter of this year exceeded more than A quarter of the total target, in addition to that, public revenues in the first quarter exceeded the levels recorded during the last quarter of last year, and therefore this is considered positive for revenues. He continued, “As for expenditures, they recorded a high ability to efficiently manage expenditures with the balance between expenditures. Current and capitalism, as it was noticed that the debt did not rise and remained at constant levels, which is a good and positive indicator, in addition to the state’s intention to repay the amounts of foreign debts due during the current year in a way that enhances the foreign investor’s confidence in state institutions and increases the attractiveness of investment in the Qatari economy and its ability to generate revenues and pay obligations Domestic and foreign ».

Al-Marwani: An initial positive indicator for the first quarter indicators

Hamed Ahmed Al-Marwani, an economist, considered that the general budget statement for the first quarter of 2021 showed promising indications for the national economy’s progress on the road to recovery after the challenges it had witnessed during the past year due to the repercussions of the Corona pandemic and the decline in oil prices.

Speaking to “Lusail”, he said that the 2021 budget was set on the basis of revenues based on an estimate of the oil price of $ 40, and given that the average oil price exceeded this figure, reaching 61.3, revenues reached 45.2 billion riyals in the first quarter of this year, and the budget achieved a surplus of about 200 million riyals. What appears to be the case that the State of Qatar is one of the few countries that achieved a surplus in its budget in the first quarter of this year after the recovery of oil prices and the receding of the impact of the Coronavirus pandemic, adding, “Balanced spending was one of the main factors for this improvement, and it is noticeable that the budget was developed on the basis of declining expenditures. In the main items except for capital expenditures, but the quarterly report shows the decline in all items except for current expenditures, which increased slightly over what was planned for this quarter. It is noticeable that projects were awarded during the first quarter of this year and the rest of the projects are awarded successively, as expenditures on major projects constitute 33.4 percent of the general budget and among the most important projects to be completed in 2021 are the food security project, the old Doha port project and the transportation project. Al-Khafif in Lusail City (the tram) and what remains of the Sabah Al-Ahmad Corridor, in addition to the World Cup-related projects, namely Ras Abu Aboud Stadium, Al Thumama Stadium and Lusail Stadium.

He pointed to the stability of public debt levels, as he said that the stability of public debt is a good indicator in light of the worsening global public debt in light of the Corona pandemic, and the ministry also indicated that it has a tendency to reduce public debt levels through the payment of due payments and early repayment, adding that it is not expected that The budget needs any external financing in light of the current oil prices, as the ministry explained that it is expected that the GDP will grow at constant prices by 2.2% for the year 2021 and that the Qatari economy will recover from the contraction in 2020 due to the decrease in oil prices and the Corona pandemic, which promises that the Qatari economy is moving in the direction. Correct positive.

Al-Shirawi: Mitigating the impact of the pandemic and reaching budget targets

Engineer Jassim Muhammad Al Shirawi said that the Qatari economy has demonstrated high capacity and flexibility in facing challenges and absorbing shocks and overcoming them, in light of the insightful vision of our wise leadership, its wise policies and its sound directives for state agencies in periods of crisis, which enabled the Qatari economy to face various challenges and preserved the financial stability of the state .

This is evidenced by the state budget data for the first quarter of 2021, which showed the growth of total output despite the continued emergence and spread of new waves of the Coronavirus in different parts of the world, supported by the government’s continuous efforts to diversify its sources of revenue, and the application of programs to enhance the efficiency of public spending, Involving the private sector in the development process, increasing its participation in the implementation and operation of projects, and providing the appropriate environment to attract investments to various economic sectors to contribute to building a diversified and strong economy.

In addition to adopting moderate estimation policies for the price of a barrel of oil in the budget, continuing spending on major projects and hosting projects for the 2022 World Cup, infrastructure projects in key sectors such as health and education, and setting up mechanisms to support and support private investments, which achieved a surplus of 200 million riyals, and enabled the state From mitigating the repercussions of the Corona pandemic on the economy and reaching and exceeding the estimated targets in the 2021 budget.

Al-Shirawi added that the current indicators and GDP data for the first quarter of this year predict continued growth in 2021 supported by healthy prices per barrel of oil and hydrocarbon resources, and the state’s continuing funding of major development projects, encouraging private investments, and following up the implementation of programs and plans set to achieve the national vision for the year 2030, as well. The tremendous efforts being made to accelerate the pace of vaccination for citizens and residents of the country will add more support to the state’s plans to accelerate the return to normalcy for various economic and commercial activities, and to mitigate the repercussions of any additional waves of the pandemic afflicting the entire world.

Abu Hulaiga: Upgrading credit ratings

The investor and businessman Youssef Abu Hulaika said that the report comes to maximize the investors ’view of the Qatari economy in terms of stability and its solid foundations, stressing that the first thing that the investor is looking for is the financial position of the state and the extent of its commitment to the laws and financial controls on which it is built.“ This report will be an incentive for every investor. He is looking for serious opportunities, as this report reflects Qatar’s ability, capabilities, wisdom and objectivity in dealing with events and developments. It also confirms the resilience of the Qatari economy, which has become able to face all crises, including oil price fluctuations and the implications of the outbreak of the Coronavirus pandemic.

He said that these financial statements would enhance the position of the State of Qatar, and would have positive repercussions on the country’s credit ratings, especially after those financial and credit institutions announced their positive outlook for the Qatari economy.