Abu Dhabi – Mubasher: The central bank of the UAE (CBUAE) reported that the state’s gross domestic product (GDP) grew by 2.2% year-on-year in the first quarter of 2019, Emirates News Agency (WAM) reported on Sunday.
The non-oil economy in the UAE rose by 1.6% in Q1-19 as compared to the same quarter of 2018, the CBUAE added.
The country’s consumer price index (CPI) fell in the first three months of this year as the impact of the value-added tax (VAT) vanished.
Quarter-on-quarter, employment in the private sector revived by 1.2% in Q1-19, the central bank indicated.
The private sector’s deposits maintained rising in the three-month period ended 31 March, as well as total credit of most the economic sectors.
The central bank’s general budget increased in Q1-19 on the back of the growing inflows of foreign currencies.
