Qatar’s international reserves and foreign currency liquidity rose by 3.81% in February, reaching a total of 255.916 billion Qatari riyals ($70.29 billion), up from 246.509 billion riyals during the same period last year, according to the Qatar Central Bank’s latest data.
Official reserves, which include foreign bonds, treasury bills, cash balances with foreign banks, gold, Special Drawing Rights (SDRs), and Qatar’s IMF quota, increased by 9.218 billion riyals, totaling 196.817 billion riyals by the end of February. This growth occurred despite a 13.175 billion riyal decrease in foreign bonds and Treasury bills, which stood at 125.790 billion riyals.
Notably, gold reserves saw a significant rise of 13.85 billion riyals, reaching 38.263 billion riyals. Cash balances with foreign banks increased by 8.63 billion riyals, totaling 27.67 billion riyals, while SDR deposits at the International Monetary Fund fell by 98 million riyals, totaling 5.09 billion riyals.
Qatar’s financial stability continues to reflect in its reserves, despite global market fluctuations. The country’s fiscal performance has been robust, with a budget surplus of 900 million riyals in the fourth quarter of 2024, up from 100 million riyals in the previous quarter. This surplus is being used to reduce public debt.
The fourth-quarter expenditures were reported at 47.8 billion riyals, reflecting a 12% year-on-year decline, while revenues totaled 48.7 billion riyals, a 12.5% drop. The health, municipal and environmental, general secretariat, and energy sectors were the top-performing areas, as per the Sector Performance Index.
Qatar’s real GDP is expected to grow by 2% in 2024-25, with public investment, liquefied natural gas spillovers, and a strong tourism sector driving growth. The IMF has forecasted Qatar’s medium-term growth at an average of 4.75%, supported by an expansion in LNG production and the early impacts of the Third National Development Strategy reforms.
