+ A
A -
Asif Iqbal
Doha
The unjust blockade imposed on Qatar by four Arab countries led by Saudi Arabia has failed to make any dent in remittances of expatriate workers from the country.
According to latest data released by the Qatar Central Bank (QCB), between January and September of 2017, remittances went up by 12.8 percent to QR36.5 billion as against QR 32.01 billion during the same period in 2016.
As per the data, remittances had been increasing from the first quarter of 2017.
In the first quarter of last year, remittances from Qatar stood at QR11.02 billion, while it was QR11.15 billion for the third quarter.
"The remittances in the second quarter of the last year were up compared to the first quarter," a senior official of a leading exchange house said. The total remittances from Qatar in the second quarter of 2017 amounted to QR13.9 billion, he added.
"We will have to wait till QCB publishes the fourth quarter balance of payments data to compile the total remittances that were made last year," the official added.
"With oil prices showing good recovery and prudent management by the country to overcome the impact of the blockade, remittances are expected to be healthier this year as well," the official said.
A World Bank report recently said that in line with the improved global economic outlook, remittances to developing countries are expected to have grown at about 3.3 percent in 2017 to $444 billion.
The report said the top five remittance recipients worldwide are India, China, the Philippines, Mexico, and Pakistan.