Banking system in Qatar proved ability to mitigate risks: QCB Governor at Qatar Economic Forum

Doha - Governor of the Qatar Central Bank HE Sheikh Abdullah bin Saoud Al-Thani, praised the banking and financial system in the State of Qatar, noting in this context that the fixed exchange rate of the Qatari riyal against inflation and its link to oil prices constitutes an added value to it.

His Excellency noted that the banking system in the State of Qatar has proven its success and its ability to mitigate risks, given the growth of the gross domestic product, and is expected to achieve greater growth during this year. His Excellency pointed out during his participation in a discussion session held within the activities of Qatar Economic Forum, Powered by Bloomberg that the recovery that several countries witnessed after overcoming the consequences of the Coronavirus (Covid-19) pandemic, along with the growth in government spending and the economic support packages that it provided, led naturally, to boost demand, which in turn leads to an increase in inflation, indicating that in the long run there will be no rise in inflation.