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  • 07-11-19

    3 percent surge in UAE economic growth by 2020

    (MENAFN) The United Arab Emirates (UAE) is expected to achieve a boost by over 1 percent in its non-oil economic growth for 2019, and is likely to hit a 3 percent surge by next year.

    According the forecast the International Monetary Fund (IMF) made, those results are an acceleration to be the best to be witnessed since 2016 amid positive performance from the several fiscal stimulus plans and Expo 2020.

    IMF projections reflect an accelerated rebound for this year as well as a faster pace for 2020 in the UAE economic performance.

    Executive of the IMF Koshy Mathai commented "sustaining robust non-oil growth after Expo 2020 remains a key priority."

    Mathai added that sustained non-economic development is "more pressing over the longer term" with international global oil expected for a slowdown amid technological advances and policy reactions to climate change.

    MENAFN0711201900450000ID1099236581

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