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Qatar’s economy was hit hard by the fallout from the global shutdown due to the Corona virus, with Doha racking up $ 10 billion in debt in April.
To mitigate the damage to Qatar’s economy, in June, the Ministry of Finance issued instructions to state-funded government ministries, institutions and entities to reduce the monthly expenses of non-Qatari employees by 30 percent starting in July. , cutting wages or laying off workers with a two-month notice, according to the agency. "Bloomberg" Newsletter.
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On Sunday, Qatar Airways reported losses of 7 billion riyals, equivalent to $ 1.92 billion, for the fiscal year ending March 31, according to Reuters.
The company revealed that it had received support from the Qatari government, amounting to 7.3 billion riyals.
In June, the Qatari airline announced its intention to lay off at least 20 percent of the company’s employees and prevent Airbus A380 jets from flying until the end of 2021.
Qatar Airways CEO Akbar Al Baker said that at least 20 percent of the group’s employees could be laid off and that the company is in talks with Airbus and Boeing to delay all deliveries of the suspended plane.
Qatar’s economy was hit hard by the fallout from the global shutdown due to the Corona virus, with Doha racking up $ 10 billion in debt in April.
To mitigate the damage to Qatar’s economy, in June the Ministry of Finance issued instructions to government-funded ministries, institutions and entities to reduce the monthly expenses of non-Qatari employees by 30 percent starting in July, through reducing wages or laying off workers with a two-month notice, according to the agency. Bloomberg News.
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