Qatar Central bank’s (QCB) foreign exchange (FX) reserves rose to reach $52.7bn in May. As the fiscal account surplus widened to 3.4 percent of GDP in Q4 2018, the trade balance surplus remained healthy at $3.7bn in May. The current account balance surplus stood at $2bn in Q1 2019.
QNB’s Qatar Monthly Monitor noted the banks’ asset growth was at 5.9 percent on year-on-year in May. Credit growth was 5.6 percent from a year ago. Bank deposit growth was at 2.7 percent in May. While private sector, public sector deposits decreased respectively 0.9 percent, 0.4 percent month–on-month, non-resident deposits increased 5.5 percent in May.
The country’s real GDP growth was 0.9 percent year-on-year in Q1 2019. Non-hydrocarbon GDP growth was 1.6 percent in Q1 2019. CPI inflation was at -0.5 percent year-on-year in May. Brent crude prices declined to average $ 63.0/b in June. Manufacturing production grew 1.1 percent year-on-year in April. The real estate price index is up 1.0 percent year-on-year.
Source from: The Peninsula