Middle-east Arab News Opinion | Asharq Al-awsat

Undeclared Qatari Economic Losses to Surface | ASHARQ AL-AWSAT English Archive 2005 -2017
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Man walks as he shops in a mall in Doha. Photo: Reuters

Riyadh- Observers and economists expected that during the coming days the Qatari undeclared losses will surface if Doha continue with its intransigence and if boycott prolonged.

Doha will find itself compelled to pay a high price for its ineffective investment and commercial agreements and contractions with Iran and Turkey.

In their talk with Asharq Al-Awsat, economists asserted that prolonging the boycott would be catastrophic on the Qatari economy given that some countries suspicion of Qatar funding terrorism would make the foreign capital intimidated and unready to endure costs of this boycott and its increasing risks with days.

Economic analyst Dr. Salah al-Shalhoub told Asharq Al-Awsat that the geographic nature of Qatar and it economic conditions will disclose the undeclared effect of the economic boycott since Doha imports more than 65% of food products from Saudi Arabia.

“This would cause prices to hike and affect personal incomes,” he added.

Shalhoub also stated that Qatar didn’t show interest in domestic investment but majorly depended on neighboring countries – “Impact of this will clearly appear not only on the economic level but also on the GDP,” he added.

Economic researcher Dr. Sadiq Idris said that extending the boycott would reveal the concealed effects in the form of industrial, investment and commercial complications and a crisis of stumbled agreements and essential products.

“This would push Doha to seek other agreements with higher prices and costs,” he added.

Further, chairman of the Saudi Economic Association Dr. Khaled al-Ruwais declared that the Qatari economy is subject to direct and indirect losses on a daily basis in an ascending manner especially that Qatar has depended firsthand on Saudi Arabia in importing its consumable and food goods.