Abu Dhabi: First Abu Dhabi Bank (FAB) on Tuesday released its 2020 Global Investment Outlook Report, with the bank’s industry experts forecasting economic growth for the UAE in 2020.
The International Monetary Fund (IMF) forecasts that the country will grow 2.5 per cent in 2020, a significant acceleration compared to the 1.6 per cent the institution estimated for 2019. Much of that will be driven by growth outside the energy sector, as the IMF expects non-oil growth to accelerate to 3 per cent in 2020 from 1.6 per cent last year, driven by the World Expo 2020 and government growth initiatives.
“The combination of improving global growth, alongside very low interest rates around the world, should continue to see risks assets do well in 2020,” said Alain Marckus, managing director and head of Investment Strategy and Investment Management at FAB.
“Ongoing global central bank accommodation also should see the emerging markets do well. The economic “long cycle” continues to be extended with opportunities available in value and income strategies, which we think will be the outperformers,” he added.