Government’s current expenditures remain broadly inelastic; leaving mainly two options, i.e., to lower their capital expenditure and/or raise debt to fund the spending.
"To give all our stakeholders comfort, this amounts to only 0.4 percent of our capital," it further affirmed.
Asia’s importance in global trade, helped by China’s ideas, innovation and growth and allied to the Middle East’s drive to improve living standards and diversify should profit every regional bank.
The bank is expected to merge with the two other Abu Dhabi lenders, which will create the third largest bank in the UAE, in the first half of 2019
“This year also we expect the corporate sector will continue offering more opportunities as several new projects as well as remaining projects related to the Fifa games are being implemented,” he added.
It targets promoting trade between Egypt and the Gulf region, attracting more Arab investments to Egypt, financing trade operations, and luring Egyptians' money transfers to Egypt.
It was followed by Pakistan, comprising 9.4%, Philippines (7.2%), the United States (5.9%) and Egypt (5.5%).