During a meeting with the Supreme Committee for Crisis Management, HH the Amir outlined the precautionary actions taken to combat the spread of Coronavirus (COVID-19) and issued directives to initiate several new measures related to Qatar’s economic & financial sector.
- Support to the private sector, providing it with financial and economic incentives amounting to 75 billion Qatari Riyals.
- The Central Bank to establish the appropriate mechanism to encourage banks to postpone loan instalments and obligations for the private sector for a grace period of six months.
- Qatar Development Bank to postpone the instalments of all borrowers for a period of 6 months.
- Government funds to increase their investments in the stock exchange by 10 billion Qatari Riyal.
- The Central Bank to provide additional liquidity to banks operating in the country.
- Exemptions for food and medical goods from customs duties for a period of six months provided that this is reflected in the selling price to the consumer
- Exempting the following sectors from electricity and water fees for a period of six months: Hospitality and tourism sector, retail sector, small and medium industries sector, commercial complexes in exchange for providing services and exemptions to tenants and logistics areas.Exemption from rents for the logistical areas and small and medium industries for a period of six months.
Source: Government Communications Office (GCO)