International reserves and liquidity in foreign currencies at the Qatar Central Bank grew to reach 235 billion Qatari riyals (64.5 billion US dollars) at the end of March 2023, an increase of 0.1% on a monthly basis, and by 11.8% on an annual basis.
The increase amounted to 11.8% growth compared to March 2022 and 0.1% growth compared to February 2023.
The total official reserves of the Qatar Central Bank witnessed a similar growth, reaching 177 billion riyals (48.7 billion US dollars) at the end of March 2023, an increase of 0.2% on a monthly basis and by 15.6% on an annual basis.
Economic and financial experts stressed that the increase in international reserves supports the Qatari economy as a wall against any challenges or difficulties facing Qatar due to the global and regional economic conditions.
They stressed that the continuous rise of these reserves confirms the success of the financial and economic policy pursued by the state, represented by the Qatar Central Bank, which manages the international reserves portfolio.
For their part, economic and financial experts stressed that the continuous rise in international reserves confirms the success of the financial and economic policy pursued by the state, represented by the Qatar Central Bank, which manages the international reserves portfolio. And that these reserves support the Qatari economy as a wall against any challenges or difficulties facing Qatar due to the global and regional economic conditions.
Financial expert Abdullah Al-Khater stressed that the reserves support the confidence of international institutions in the economy, and contribute to attracting investments and capital to the local market, which leads to more recovery in the market and the creation of new job opportunities, and an increase in the domestic product, including the contribution of the private sector.
He pointed to the continuation of the state’s policy of increasing and strengthening international reserves, and focusing on investments secured by international guarantees such as government bonds or sukuk and securities guaranteed by governments.
He explains that the state’s directions and policy related to foreign investments and reserves were good over the past years, and the importance of having strong investments abroad that were chosen very carefully by the Qatar Investment Authority, and deep feasibility studies, which had the greatest impact on these investments achieving good returns and appropriate to the economic situation. Qatar Central Bank efficiently, so it was a flexible policy commensurate with the economic conditions in the world, so that it rises and falls according to these variables.
The official reserves consist of four main components, on top of which are: foreign bonds and treasury bills, deposits and cash balances with foreign banks, the central bank’s gold holdings, special drawing rights deposits, and Qatar’s share in the International Monetary Fund.
