UAE economy to grow 3 per cent in 2020
GCC growth also set to accelerate to 3.2% in 2020
Abu Dhabi: Growth in the UAE is forecast to be at 2.6 per cent in 2019 and jump to 3 per cent in 2020, as the country pushes infrastructure investments ahead of Dubai’s Expo 2020, according to the new World Bank’s Gulf Economic Monitor released on Wednesday in Abu Dhabi.
The country’s economy is forecast to grow further by 3.2 per cent in 2021, supported by the government’s economic stimulus plans, as well as its hosting of the World Expo, and improved growth prospects with trading partners.
The report also said economic growth in the Gulf Cooperation Council (GCC )region is expected to increase from 2 per cent last year to 2.1 per cent in 2019, before accelerating to 3.2 per cent in 2020 and stabilising at 2.7 per cent in 2021.