The Central Bank of the UAE expected real GDP growth of 2 percent during the last quarter of 2019, which is higher than that recorded in the second quarter of the same year of 1.7 percent, which is a sign of the great improvement of the UAE economy in its various sectors despite the slowdown that dominates the global economies.
In light of these positive indicators, according to the central bank, it is expected that the real gross domestic product growth rate will increase to 2.3 percent during the year 2019, supported by growth in the non-oil and oil sectors at the same time.
This improvement in growth indicators supports the expectations of an increase in public and private spending at the level of the UAE in general, in addition to an increase in the volume of investments before the start of the “Expo 2020 Dubai” and the recovery of some major economies.
The estimated real growth in the UAE, according to the Central Bank, witnessed an increase of 1.3 percent year-on-year in the third quarter of 2019, while the growth rate reached 2.4 percent during the second quarter of the same year.
Source (Al-Khaleej Newspaper, Edited)
