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Qatari economy liquidity grew by 2.3% in September

Qatari economy

The liquidity of the Qatari economy grew last September by 2.3% on a monthly basis, supported by quasi-cash.

The Qatar Central Bank said that liquidity in the Qatari economy rose to 617.4 billion riyals.

According to the bank, the Qatar Money Supply M2 grew in September with an increase of quasi-cash by 4.1% compared to the previous month.

Qatari economy

Deposits in foreign currencies rose to about 177.9 billion riyals, and time deposits increased to about 290 billion riyals.

The quasi-cash includes non-monetary liquid assets consisting of some debts and obligations of financial institutions and includes time and savings deposits, short-term state bonds, insurance contracts and other assets that can be quickly converted into money.

On the other hand, the Money Supply M2 recorded last September a decline of 2.9% on a monthly basis, pressured by the decrease in demand deposits to 137.2 billion riyals, and the stability of cash in circulation at 12.5 billion riyals.

Work force

In a related context, the labor force in Qatar recorded the highest rates in the world, as it rose to 88.2% last year.

The Qatar Planning and Statistics Authority said that unemployment in Qatar fell to 0.1%.

Saleh Al-Nabit, head of the authority, confirmed that the decrease in the dependency ratio from 40% to 20% during the past year, reflects the improvement in the standard of living of the population in Qatar.

He pointed out that population studies indicate that the lower this rate, the higher the standard of living.

Al-Nabit pointed out that benefiting from the increasing size of the working age groups of Qataris and non-Qataris enabled the country to catch up with countries with high human development.

It also confirms human development reports issued by the United Nations Development Program.

“Despite the qualitative achievements achieved in terms of implementing the population policy, there are still some challenges and difficulties, including the imbalance of the demographic structure, and the rapid global changes resulting from the Coronavirus pandemic,” Al-Nabit said.

“This requires developing human capital to carry out future jobs related to modern technology, which requires strengthening and intensifying investment in education, and harmonizing curricula and university majors for these skills, which contributes to restructuring the labor market on foundations capable of localizing these jobs,” he added.

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