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UAE money supply growth hits 2-year high

Dubai, June 27, 2013

Money supply (M3) in the United Arab Emirates grew 11.3 percent year-on-year at the end of May, the fastest rate since June 2011, after a 9.7 percent rise in the previous month, central bank data showed on Thursday.

Bank lending growth in the world's No. 3 oil exporter edged up to 5.2 percent year-on-year in May from 4.7 percent in April, which was the fastest rate since at least early 2010, the data also showed. – Reuters

Tags: UAE | Central Bank | money supply | bank lending |

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