Qatar, 16 October, 2024 : HH Sheikh Tamim bin Hamad Al Thani inaugurated the fourth ordinary session of the first legislative term of the Shura Council on Tuesday morning at the Tamim bin Hamad Hall. The ceremony was attended by various dignitaries, including the Father Amir, HH Sheikh Hamad bin Khalifa Al-Thani.
In his speech, the Amir highlighted the resilience of Qatar's economy, noting a projected GDP growth of 2% by the end of 2024, despite challenges following the World Cup and infrastructure project completions. The hydrocarbon sector is expected to lead growth, alongside non-hydrocarbon activities.
The Amir reported that the inflation rate has fallen to 1.4% as of July 2024, thanks to effective fiscal policies aimed at ensuring stable supply chains and controlling prices. He stated that the government plans to continue reducing public debt, which has decreased from nearly 73% of GDP in 2020 to less than 44% by the end of 2023.
Further, the Amir announced initiatives to enhance local production and support the private sector, including a targeted annual growth rate of 10% for in-country value through government procurement. He emphasized Qatar's commitment to sustainability, introducing a sovereign green financing framework and issuing government green bonds.
The Amir also reaffirmed the importance of Qatar's relations with Gulf Cooperation Council countries, stressing the need for joint action to meet the aspirations of the region's peoples.
Finally, the Amir addressed upcoming constitutional amendments, including a return to appointing members of the Shura Council. He urged citizens to participate in the forthcoming referendum on these amendments, which aim to promote equality and unity among Qatar's population.
Source : www.zawya.com
