Macroeconomic Forecast UAE

According to recently released data, the total stock of deposits in the domestic banking sector increased 16.0% in April, compared to 9.2% at the start of the year and 1.1% in the same month last year. This improvement has been due in large part to the UAE's improved risk profile, as the ongoing 'Arab Spring' has solidified its reputation as a regional 'safe haven'. We now forecast total deposits increasing 23.0% y-o-y.

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