{"id":272115,"date":"2020-04-24T14:49:20","date_gmt":"2020-04-24T17:49:20","guid":{"rendered":"https:\/\/anba.com.br\/?p=272115"},"modified":"2020-04-24T15:15:12","modified_gmt":"2020-04-24T18:15:12","slug":"former-minister-says-qatar-to-absorb-shock-from-covid-19","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/former-minister-says-qatar-to-absorb-shock-from-covid-19\/","title":{"rendered":"Former minister says Qatar to absorb shock from Covid-19"},"content":{"rendered":"<p>S\u00e3o Paulo \u2013 Qatar\u2019s economic policy is underpinned by a robust system, and the USD 20.6 billion private sector stimulus package will enable the country to absorb the worldwide shock from the coronavirus pandemic. So said this week former Qatar minister of Energy and Industry Mohammed bin Saleh Al Sada during an online seminar hosted by Qatar Foundation, in which board he sits.<\/p>\n<p>Qatar announced a QAR 75 billion package, equivalent to USD 20.6 billion, to help see the private sector through the pandemic. Government funds have also been instructed to step up investment in the local stock exchange by QAR 10 billion (USD 2.7 billion). Import fees on foods and medical items have been lifted for a six-month period.<\/p>\n<p>Al Sada expects the economy to see 3% growth in 2021, with the services sector recovering particularly well in the lead-up to the 2022 FIFA World Cup, which Qatar is set to host. \u201cOur unemployment is nearly zero \u2013 which is unheard of in most of the countries \u2013 and so I feel our economy will manage,\u201d he said.<\/p>\n<p>He noted that action was taken early on in the crisis, and that the latest ratings from both Standard &amp; Poor\u2019s (S&amp;P) and Moody\u2019s indicate that Qatar\u2019s economy is solid and able to withstand shocks. The world\u2019s biggest exporter of liquefied natural gas (LNG), Qatar accounts for a third of exports of the product worldwide. Hydrocarbon prices have dropped significantly this year.<\/p>\n<p>Sada said that \u201csalvaging the world\u2019s oil and gas industry is very important in order to salvage the global economy and mitigate the worldwide impact of the recession and, in fact, trying to stop it from going further into a depression.\u201d He believes gas supply and demand will become balanced by 2024 or 2025, because \u201cthe curve of the consumption and demand is increasing more than any other form of energy.\u201d Qatar has announced that its LNG output capacity will be 67% by 2027.<\/p>\n<p>*With information from Qatar\u2019s <em>The Peninsula<\/em> daily<\/p>\n<p><strong>Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-272113\">Alexander Klein\/AFP<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mohammed bin Saleh Al Sada, who served a stint as Energy and Industry minister, said a robust economy and a USD 20,6 billion stimulus package will enable the country to manage the pandemic shock. He expects demand for gas to go up substantially in years to come.<\/p>\n","protected":false},"author":2316,"featured_media":272113,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[114],"tags":[7127,14155,14891,15078,9270,15080,9598,15083,15082],"class_list":{"0":"post-272115","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-brazilian-minister-of-agriculture","9":"tag-coronavirus-en","10":"tag-covid","11":"tag-gnl","12":"tag-minister","13":"tag-mohammed-bin-saleh-al-sada","14":"tag-qatar-en","15":"tag-qatar-foundation-en","16":"tag-sada-foundation"},"wps_subtitle":"Mohammed bin Saleh Al Sada, who served a stint as Energy and Industry minister, said a robust economy and a USD 20,6 billion stimulus package will enable the country to manage the pandemic shock. He expects demand for gas to go up substantially in years to come. 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