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A Bloomberg poll predicted that the UAE economy will grow by 3.8% this year, according to the opinions of 13 economists who were surveyed from the 13th to the 18th of this month.
Experts said they expect the country’s GDP to grow by 4.7% next year. The Arab Monetary Fund had expected the UAE economy to grow by 3.9% this year, amid expectations of continued improvement in tourism, real estate, international trade and increased capital spending.
The continued implementation of efforts to support the economy, including the development of high-tech industries, indicates a resilient economic path forward. The UAE economy enjoys strong fundamentals supported by a dynamic non-oil sector and strong public and monetary policies aimed at maintaining economic development, financial stability and the soundness of the financial sector.
The country’s growth also relies heavily on its strategic initiatives to enhance its position as a global hub for trade and finance, continuous development of infrastructure, a strong regulatory framework that attracts foreign investment and a focus on innovation, growth and technology-based sectors.
