Official data issued by the Qatar Central Bank showed that remittances of expatriates in Qatar abroad decreased to 26.7 billion riyals (7.34 billion dollars), during the first nine months of 2020, a decrease of 17.7 percent on an annual basis, due to the repercussions of the Corona virus.
According to the report, remittances from expatriates decreased from 32.44 billion riyals (8.92 billion dollars) during the same nine months of 2019. While the balance of current transfers (all transfers that took place inside or outside the country) recorded a deficit of 11.3 billion riyals (3.1 billion dollars) during the third quarter of 2020, compared to 15.06 billion riyals (4.14 billion dollars) during the same period last year.
Qatar received 1.34 billion riyals ($ 368 million) in remittances coming from abroad, compared to outward transfers with a total value of 12.67 billion riyals ($ 3.48 billion) during the third quarter of 2020. The data showed that the Qatari balance of payments shifted to a deficit of 906 million riyals (249 million dollars) during the third quarter, compared to 5.54 billion riyals (1.52 billion dollars), compared to the same period last year.
Source (Anadolu Agency, Edited)
