The International Monetary Fund has expected a real GDP growth for the UAE this year from 1.3 percent in its previous estimates in October of last year to about 3.1 percent, thanks to the improved economic indicators and stronger performance than expected in the last quarter of last year and the first months of this year.
The World Economic Growth Prospects report indicated that the UAE will maintain an average economic growth of no less than 2.6 percent until 2026. According to the IMF's forecasts, the inflation level is expected to rise by about 2.9 percent this year after the consumer price index shrank by about 2.1 percent last year as a result of the pandemic repercussions. The fund expects the inflation to reach 1.2 percent next year, and 1.8 percent by 2026.
The IMF also raised its expectations for a surplus in current accounts, likely to achieve a surplus of 7.1 percent of GDP, and that the surplus next year will reach 6.3 percent of GDP and 6.8 percent by 2026.
Source (Al Khaleej Newspaper-UAE, Edited)
