Abu Dhabi – Mubasher: The UAE's gross domestic product (GDP) is expected to grow by 2.5% this year and by around 2.8% in 2019, according to a recent report by the Central Bank of the UAE (CBUAE).
The GDP of the non-oil sector rose by 2.9% in 2017 to register 1.5%, the report noted.
The central bank has completed the preparation for a system that includes regulations to encourage banks to finance small- and medium-sized enterprises (SMEs) and iron out obstacles, governor of the CBUAE Mubarak Al Mansouri said.
The CBUAE is currently collaborating with the concerned authorities to prepare for an applicable integrated system to develop SMEs, Al Mansouri highlighted.
Moreover, chairman of the CBUAE Khalifa Mohammed Al Kindi remarked that the bank would accelerate the issuance of the general debt law to strengthen securities market, measure yield curve on local currency, and attract foreign capital inflows.
