By Andrei Skvarsky.
The United Arab Emirates’ central bank estimates that gross domestic product grew by nearly 7.6 per cent in 2022 or at double the 2021 pace, CBUAE said on May 10.
Inflation in the UAE closed at 4.8 per cent by the end of 2022 compared with the global average of 8.8 per cent, the regulator said in a statement in citing a CBUAE annual report for 2022, adding that it expected UAE inflation to go down in 2023.
The statement also said that, by the end of 2022, 65 per cent of staff positions at CBUAE had been filled by UAE nationals as part of Emiratisation, a government policy to boost the employment of Emiratis – about 90 per cent of the country’s population of 10.23m are expatriates.
The statement cited CBUAE governor Khaled Mohamed Balama as promising the bank would continue to work to promote Emiratisation throughout the financial sector.
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