Abu Dhabi – Mubasher: The UAE’s government total expenses increased by 23% during the full-year 2017, said Central Bank governor Mubarak Rashed Al Mansoori.
The UAE’s non-oil gross domestic product (GDP) registered a 2.9% growth last year, Al Mansoori added on Tuesday.
The central bank governor expected that the country’s non-oil sector will rise to hit 3.5% during 2018.
Al Mansoori noted that the central bank is currently discussing the list of services and fee prices that banks were required to apply after the nation put the 5% value-added tax (VAT) into effect.
