FINANCIAL NEWS

UAE’s economic performance sets an example

28 Jan 2016

(MENAFN) The UAE economy is one of the most diversified among the GCC nations and is forecasted to record 3.1 percent of net domestic product (GDP) growth this year in spite lower oil prices, based on expert’s data.

In an era where most of emerging economies both regionally and globally are hardly getting by, UAE rise with its flawless strategies, and the fact that most of its earnings depend on non-oil sector’s development, is a key contributor.

Though the GCC economies are still dependent on the hydrocarbon sector as its main export and source of fiscal revenues, most of them are now looking up to the Emirates to replace their growth model by economic diversification.

Furthermore, GCC is expected to progress by 3.1 percent throughout the current year, higher than many emerging and advanced economies, and the United Arab Emirates in particular is projected to grow by 2.5 percent.

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