DOHA: Despite the coronavirus pandemic, the private sector in Qatar appears to be thriving. Qatar Central Bank (QCB) data in its consolidated budget for July 2020 showed total deposits of the local private sector with banks increased by QR600mn at the end of the month to QR375.6 bn.
The total of local loans and credit facilities provided by banks to the local private sector increased by QR3.1bn to reach QR 677.2bn. Out of this amount, QR169.7bn was for the services sector, down QR200mn from June.
The breakup shows QR154.6bn for the real estate sector, up QR3bn from June, QR140.2bn for consumer loans for individuals, unchanged from June, QR143.8bn for the trade sector, again, unchanged from June and QR19.5bn for the industrial sector, up QR300mn. Other loans and facilities of QR11.4bn were for the non-banking financial sector, unchanged from June.
The data showed public sector loans rose to QR324.2 bn. Public sector deposits decreased by QR6bn to QR274.5bn.