Monday, May 20, 2024

Emirates News Agency – The International Monetary Fund expects the UAE economy to grow by 3.5% in 2023, rising to 3.9% in 2024.


ABU DHABI, April 11 / WAM / The International Monetary Fund expects the UAE’s real GDP growth to increase to 3.5 percent in 2023 and 3.9 percent in 2024.

The IMF’s projections for the national economy come two days after the World Bank estimated that the UAE’s real GDP will grow by 3.6% in 2023 and 3.4% in 2024.

In its World Economic Outlook released today on the sidelines of its spring meeting in the US capital, Washington, the International Monetary Fund estimates that consumer prices in the country will fall by 3.4% in 2023 and further decline by 2%. 2024.

Current accounts in the UAE will grow to 7.1 percent of GDP in 2023 and 7 percent in 2024, according to an International Monetary Fund report.

Economies in the Middle East and Central Asia are expected to grow by 2.9 percent in 2023 and 3.5 percent in 2024, while emerging market and middle-income economies are expected to grow by 3.9 percent in 2023 and 4 percent in 2024.

According to the report, Saudi Arabia’s economy is expected to grow by 3.1 percent in 2023 and 2024, while Qatar’s economy is estimated to grow by 2.4 percent in 2023 and 1.8 percent in 2024.

Kuwait’s economy is expected to grow by 0.9 percent in 2023 and 2.7 percent in 2024, while the economy of the Sultanate of Oman is expected to grow by 1.7 percent in 2023 and 5.2 percent in 2024.

An International Monetary Fund report estimates that growth in low-income developing countries will be 4.7 percent by the end of this year, rising to 5.4 percent next year.

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Reda Abdel Noor / Rami Samih

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