Qatar in the Wake of Financial Crisis

In addition to the economic mismanagement, Qatar's defense budget has significantly risen in recent years.

Courtesy: marhaba.qa

(SALEM, Ore.) - A Court official in Qatar who declined to be named, said in reference to the critical situation of his country, that since Emir Tamim came to power, things in Qatar are worsening.

He said Tamim's mismanagement, incompetence and his emotional and personal behavior are at the root of the problem.

According to the report, he also said that despite severe censorship, some failures in the past year were undeniable and many adaptive statistics in the economic situation confirm Qatar's failures.

He also stated that Qatari investments overseas had suffered huge losses. After reviewing the data, many economic experts have announced that Qatari senior officials' decisions in partnership with European institutions not only had no economic justification, but also caused Qatar's economy to face serious challenges.

According to the official announcement, during the past three months Qatar has lost more than 5 billion due to the unprecedented fall of Porsche's shares and its internal problems.

Emir Tamim allegedly said, "America's nuclear deal bankrupted all of the Arab states of the Persian Gulf."

In addition to the economic mismanagement, Qatar's defense budget has significantly risen in recent years . Also, Qatar without its own will and under Saudi Arabia's pressure, was forced to enter Yemen war. It happened when oil prices were at their lowest level.

The aforementioned reasons drastically affected Qatar's economy. During the past months Qatar has lost more than $40 billion due to falling oil prices and that economic damage is irreparable.

Qatar Airways in the past year had not only suffered in terms of profit, but also faced an intense budget deficit. At the request of Amir, it took foreign exchange reserves from different countries to compensate the deficit.