<p class="MsoNormal"><span style="color:#000000">The GCC gross official reserves plunged by $38 billion in 2020, dropping from about $724 billion in January last year to $686 billion at year’s end, according to Forbes Middle East calculations. Gulf foreign reserves continued to decline but at a notably slower pace during the first half of 2021, decreasing by $2.5 billion compared to a $56.8 billion plunge during the same period a year ago. </span></p>
