Qatar's public sector deposits declines by 6.9%

DOHA, Sept 13 (SEE)- Qatar's public sector deposits declined by 6.9 precent in July to reach 291.6 billion riyals in local banks.

Public sector deposits in foreign currency amounted to QR 173.3 billion and QR 118 billion in local currency.

The Central Bank of Qatar (CBQ) bulletin showed a decline in government deposits by 18 percent compared to last June to reach QR 77.5 billion, while government institutions' deposits stabilized at QR 187.2 billion.

Semi-government institutions deposits also declined by 14 percent on a monthly basis to reach QR 27 billion.

Qatar is suffering economic difficulties amid the Saudi-led economic boycott, and the blockade by neighboring countries.