804 billion dollars in foreign reserves for “Cooperation Countries”

The total reserve assets of the Gulf Cooperation Council countries reached 804.1 billion dollars, at the end of the first half of 2024, with a growth rate of 7.5% compared to the end of the previous year, according to statistics of the statistical center of the Cooperation Council countries for the Arab States of the Gulf, forming 4.9% of the total. The global, where the arrangement of the Cooperation Council came in terms of the size of international reserve assets, ranked fifth after China, the European Union, and Japan, And Switzerland.

Foreign reserves are a measure of the state’s ability to cover imports, to enhance confidence in the monetary policy of the state, in support of the stability of the national currency exchange rate, and to absorb economic shocks.