‘Qatar’s strong fiscal stability allows continued social spending’

Doha, Qatar: Qatar has maintained strong fiscal stability through prudent economic management and long term planning, Minister for Social Development...

Doha, Qatar: Qatar has maintained strong fiscal stability through prudent economic management and long-term planning, Minister for Social Development and Family, H E Buthaina bint Ali Al Jabr Al Nuaimi, has said.

Speaking during the final round-table discussion of the Second World Summit for Social Development yesterday, the minister noted that the initiative has allowed social spending to continue and expand even during periods of global volatility.

“Qatar believes that social investment is not a cost — it is a driver of stability and growth. Further, it recognises that many developing countries face severe fiscal constraints; therefore, the Qatar Fund For Development provides concessional loans, grants, and guarantees to promote sustainable development, reduce poverty, and provide humanitarian aid,” she added.

Speakers at the session evaluated the progress made since the First World Summit took place in Copenhagen 30 years ago. They emphasised the importance of fulfilling both the previous commitments and those made on Tuesday, ensuring that future generations do not inherit the same issues.

The panel, entitled “Assessing progress and addressing gaps and challenges in the implementation of the commitments of the Copenhagen Declaration on Social Development and its Programme of Action and giving momentum towards the implementation of the 2030 Agenda for Sustainable Development,” was co-chaired by Roxana Mînzatu, the European Commission’s Executive Vice-President for Social Rights and Skills, Quality Jobs and Preparedness, alongside Geoffrey Hanley, Deputy Prime Minister of Saint Kitts and Nevis.