H.E. Sultan bin Saeed Al Mansouri, the Emirati Minister of Economy predicted that the country's economy will grow between 2.5 and 3 percent this year. "Growth will be supported by the improved performance and the output of the key sectors, including trade and tourism, as well as the oil sector".
On the other hand, the total assets of UAE banks increased by 1.2 percent (an increase ratio of AED 35.2 billion), from AED 2878 billion at the end of December 2018 to AED 2913.2 billion at the end of January 2019.
The total bank credit increased by 3.0% (an increase of AED 5.4 billion) from AED 1656.6 billion at the end of December 2018 to AED 1662 billion at the end of January 2019.
During January 2019, the total bank deposits decreased by AED 1 billion, due to a decrease of AED 0.1 billion in the resident deposits and a decrease of AED 0.9 billion in the non-resident deposits, so that the total deposits reached AED 1754.6 billion at the end of January this year.
Source: (Al Khaleej newspaper, Edited)
