(MENAFN- The Peninsula) By Sidi Mohamed | The Peninsula
Doha:To fail the siege and counter its effects on the residents, Qatar explored and successfully found alternative sources of goods which were previously being imported from the blockading countries.
From the very first day of the blockade, the State focused on air cargo for import of goods to avoid any increase in prices and to counter shortage of goods and succeeded, said Dr Khalid Rashid Alkhater, specialist in monetary policy and political economy in an interview with a local channel.
Speaking about Qatar's policies to defeat blockade's impact, Alkhater added that in the second step the State used ports and maritime services to reach the new import sources, because these means are cheap and sustainable. 'Ports in Qatar continue to post robust performance showing strong growth in traffic.
'Qatar has been able to ensure uninterrupted supply of goods for the residents through its ports. Among the policies that the State has adopted was to encourage local products and private sector and many local companies succeeded in offering sufficient products in food sector.
He said that the residents had also cooperated with the government and supported the private sector and refused to buy products coming from the blockading countries.
Alkhater noted that the storage capacity in terms of facilities to ensure food security had been expanded. 'Also, the State increased the production of gas to enhance the consumer confidence and to compensate any losses due to decrease in petroleum products prices.
Qatar's economy has been able to achieve economic prosperity in 2017 despite the instability in the world's economy and the unjust siege imposed on Qatar. The economic blockade did not have a significant impact on the real and financial sector of the Qatari economy.
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