A recent report published by the United Nations Conference on Trade and Development (UNCTAD) expected that the UAE will achieve good economic growth of 3.1 percent the current year and 3.4 percent during the next year 2020.
According to the «UNCTAD» estimates, the economic growth of the UAE expectedly reached to about 2.8 percent last year (2018) compared to growth of only 0.8 percent in 2017.
According to the report, the recovery in global oil prices over the past period has played an important role in promoting the economic growth of the UAE and the oil producing countries in the region, and has helped to enhance confidence and improve the financial situation of these countries.
The report predicts that inflation will stabilize at 1.7 percent and 1.2 percent respectively in the current and next year, following a relative increase with the introduction of VAT to 3.7 percent last year.
Source: (Al Khaleej newspaper, Edited)
