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FINANCIAL NEWS
Dubai’s economy to increase by 2.4 percent this year
26 Apr 2016
(MENAFN) The gross domestic product expansion of the UAE will produce a 2.4 percent increase in 2016, despite headwinds posed by lower oil revenues.
Moreover, there are clear differences in growth trends in Abu Dhabi and Dubai, which are expected to be higher in Dubai due to the diversified nature of the UAE’s economy.
Accordingly, the growth forecast of the GCC at 1.8 percent for the cited year is lower than the projection in Oct, when it was predicted a growth of 2.8 percent.
The UAE’s growth was revised to 2.4 percent this year, below the fund’s Jan forecast of 2.6 percent, a decline since 2010.
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