Qatar Fourth Ordinary Session of the Shura Council a Step Toward Progress and Unity. In a historic moment for Qatar, H H Sheikh Tamim bin Hamad Al Thani, the Amir of Qatar, presided over the inauguration of the fourth ordinary session of the first legislative term of the Shura Council, marking the 53rd annual session of the Council.
Held at the Tamim bin Hamad Hall at the Shura Council’s headquarters, the event was attended by a distinguished gathering, including the Father Amir H H Sheikh Hamad bin Khalifa Al-Thani, the Personal Representative of the Amir H H Sheikh Jassim bin Hamad Al-Thani, and other high-ranking dignitaries and officials.
This momentous occasion reaffirms Qatar’s commitment to a robust legislative process that aligns with the principles of transparency, justice, and accountability, all of which are cornerstones of Qatar National Vision 2030. The Amir’s speech during the session outlined the country’s economic progress, financial policies, and its strategic development goals, providing insights into Qatar’s vision for the future.
A Year of Economic Resilience and Progress
During his speech, H H Sheikh Tamim bin Hamad Al Thani highlighted the resilience of Qatar’s economy, acknowledging the challenges posed by the completion of major infrastructure projects following the FIFA World Cup 2022. Despite these challenges, the Qatari economy has continued to grow, with the Gross Domestic Product (GDP) at constant prices increasing by 1.2% in 2023.
This growth was supported by a 1.4% rise in the hydrocarbon sector and a 1.1% increase in the non-hydrocarbon sector. Looking ahead, the International Monetary Fund (IMF) has forecasted further growth for Qatar’s economy, estimating a 2% rise by the end of 2023, with projections of a 4.1% annual growth rate during the medium term from 2025 to 2029.
These optimistic figures are driven by gas production expansion projects, the launch of new manufacturing initiatives, and the implementation of the Third National Development Strategy.
The Amir also emphasized the reduction in inflation, which fell to 1.4% by the end of July 2023, down from 5% in 2022 and 3% in early 2023. This drop reflects the success of the state’s fiscal policies, which have focused on stabilizing supply chains, ensuring the availability of essential goods, and controlling prices. The IMF expects inflation to stabilize at 2% in the medium term.
Fiscal Responsibility and Financial Stability
A key theme of the Amir’s speech was Qatar’s prudent fiscal management. H H Sheikh Tamim bin Hamad Al Thani highlighted the state’s continued efforts to direct budget surpluses toward reducing public debt and increasing financial reserves. These measures are crucial to maintaining the country’s financial stability, particularly in light of the fluctuating energy prices that can affect Qatar’s revenue streams.
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Since 2020, Qatar has reduced its public debt from 73% of GDP to less than 44% by the end of 2023. This reduction has positively impacted Qatar’s credit rating, with international agencies maintaining a stable outlook for the country’s financial position. The state’s balanced spending policy has supported national growth and development, while simultaneously ensuring financial sustainability.
The Third National Development Strategy (2024-2028) remains at the core of Qatar’s financial policies, with a focus on key sectors such as commerce, industry, research, tourism, digital transformation, and human development. The government is committed to allocating necessary financial resources to these areas to achieve economic diversification and sustainability, a vital component of Qatar National Vision 2030.
Private Sector Growth and Economic Localization
Qatar’s commitment to fostering private sector growth was evident in H H the Amir’s speech, particularly through the implementation of the In-Country Value (ICV) program. Launched in August 2022, this program aims to achieve an annual growth rate of no less than 10% in in-country value, with a focus on localizing various economic sectors. The program promotes local procurement, long-term contracts, and a focus on the quality and competitiveness of local products against imported goods.
To support private sector growth, the government has partnered with the Qatar Development Bank to promote private agricultural projects, developed a real estate platform to enhance transparency, and launched strategic initiatives to attract both local and international investment in the real estate sector.
In line with its environmental commitments, Qatar also launched the region’s first sovereign green financing framework, which adheres to the highest international standards for sustainable and green financing. This was followed by the issuance of government green bonds, which were oversubscribed six times during the initial public offering, reflecting global investor confidence in Qatar’s economic performance and sustainability goals.
Strengthening Gulf and International Relations
On the international front, H H Sheikh Tamim bin Hamad Al Thani underscored the importance of Gulf Cooperation Council (GCC) integration, particularly during Qatar’s presidency of the current session. The Amir reaffirmed Qatar’s commitment to supporting Gulf unity and advancing joint actions that align with the aspirations of the region’s peoples.
Qatar’s foreign policy continues to be rooted in principles that reflect the country’s Islamic-Arab-Gulf affiliation and its commitment to dialogue, diplomacy, and the peaceful resolution of disputes. The Amir reiterated Qatar’s support for political conciliation, mediation, and international partnerships that address global challenges.
Solidarity with Palestine and Lebanon
The Amir’s speech also addressed the critical issues facing the Middle East, particularly the ongoing conflict in Palestine and the aggression against Lebanon. H H Sheikh Tamim bin Hamad Al Thani condemned the continued Israeli aggression in the region, emphasizing Qatar’s unwavering support for the Palestinian people and calling for an end to the violence.
Qatar has been actively involved in mediation efforts to secure a ceasefire in the region, successfully negotiating a truce agreement in November 2022. Despite the obstacles, Qatar remains committed to achieving a just and lasting solution that ensures the rights of the Palestinian people.
The Amir also voiced his condemnation of Israel’s military operations against Lebanon, which have resulted in significant civilian casualties and displacement. He called for an end to the aggression and for the implementation of UN Security Council Resolution 1701, which aims to stabilize the border region between Lebanon and Israel.
Constitutional Amendments and Shura Council Reforms
In his closing remarks, H H Sheikh Tamim bin Hamad Al Thani addressed the importance of constitutional amendments aimed at promoting equal citizenship and enhancing public participation in Qatar’s governance. The Amir announced that these amendments, which include a return to the system of appointing members of the Shura Council, would be referred to the Council for discussion and eventual approval by popular referendum.
These amendments are designed to ensure unity and equality among Qatar’s citizens, with the goal of upholding the values of justice, fairness, and equal rights. The Amir emphasized the importance of maintaining national unity and cohesion as Qatar continues to evolve its political system.
Conclusion
The inauguration of the fourth ordinary session of the Shura Council marks a pivotal moment in Qatar’s legislative and political journey. Under the leadership of H H Sheikh Tamim bin Hamad Al Thani, Qatar is poised to achieve its ambitious goals of economic diversification, sustainability, and social justice, all while maintaining its core values of unity, respect, and collaboration.
As Qatar continues to strengthen its domestic policies and international relations, the Shura Council plays a vital role in shaping the nation’s future. With a focus on transparency, accountability, and public participation, Qatar remains committed to building a prosperous and sustainable future for all its citizens, in line with the principles of Qatar National Vision 2030.