New budget reflects the Leadership’s interest in developing the economy: Qatar Chamber Chairman

20-12-2023

HE Chairman of Qatar Chamber Sheikh Khalifa bin Jassim bin Mohammed Al-Thani said that the state’s new general budget for the year 2024 reflects the interest of the Wise Leadership led by HH Sheikh Tamim bin Hamad Al Thani in developing the national economy, noting that it also affirms the interest in achieving the goals of Qatar National Vision 2030.

In statements, HE emphasized that the 2024 budget aligns with the state’s plans and strategies to support ongoing economic growth and achieve economic diversification within the framework of the Qatar National Vision 2030. HE highlighted that it further reflects the focus on economic sectors due to their great impact on other sectors, especially after the state’s significant achievements last year, notably the successful hosting of the 2022 World Cup and the positive consequences it had on the economy and the state in general.

HE noted that the budget indicated that the estimates of non-oil revenues for 2024 amounts to QR 43.0 billion, an increase of approximately 2.4% compared to the budget for the fiscal year 2023. HE stressed that this affirms the significant growth of non-oil sectors as part of the state’s interest in economic diversification and opening new income channels beyond oil and gas.

QC Chairman commended the doubling of allocations for the communications and information technology sector compared to last year’s budget, asserting that this reaffirms the state’s commitment to fostering a knowledge-based and innovative economy while promoting investment in these pivotal sectors.

HE also praised the budget’s focus on the health and education sectors, noting that allocations for the two sectors constitute 20% of the total budget. This underscores the state’s commitment to the development of Qatari citizens, recognizing that the development of human capital is vital for the progress of all other sectors, whether economic or social.

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