Official data showed today, Tuesday, the rise in international reserves and liquidity in foreign currencies of the Qatar Central Bank in June 2020.
The rise came in at 4.4% year-on-year, to raise reserves for the 28th consecutive month, despite the economic implications of Corona.
The Qatar Bank data published on its website showed that foreign reserves increased to 203.27 billion riyals ($ 56.3 billion) in the past month.
The reserves were 194.6 billion riyals in June 2019.
On a monthly basis, the Qatari reserve increased by 0.14% last month, compared to about 203 billion riyals in the previous May.
Qatar's foreign reserves have continued to rise every month since they began growing in March 2018, and are at their highest level since August 2015.
The improvement in Qatar's reserves comes despite the corona's implications on the economy, as the country has allocated a stimulus package worth 75 billion riyals (20.73 billion dollars) to recover from the negative economic impacts of the disease.
In Kuwait, official data today indicated that official reserve assets rose by 7.4% on a monthly basis, and to a new record high, despite the repercussions of the Corona pandemic on the Kuwaiti economy, and the collapse of oil prices, the main source of public revenue.
The Central Bank of Kuwait’s monthly report showed that Kuwait’s reserve assets increased to 13.67 billion dinars ($ 44.5 billion) in May 2020, compared to 12.73 billion dinars in April.