Media ININ Economy We Trust
October 14
The International Monetary Fund raised its expectations for the growth of the non-oil GDP of the Abu Dhabi economy during the current year to 4.6%, from a previous forecast of 3.9% last May, while it maintained its expectations for the growth of the non-oil GDP of the Dubai economy at 3.8%, according to what it revealed to « Al Khaleej” is a spokeswoman for the Fund in the Middle East and North Africa region.
For 2024, the Fund expects non-oil GDP to grow by 4.3% in Abu Dhabi and 3.8% in Dubai.
The Fund expected that “financial services, tourism-related activities, and capital expenditures will support non-oil GDP growth in the near term,” noting that “oil production in the UAE is in line with OPEC+ agreements.”
In a related context, Khaled Mohammed Al-Amma, Governor of the UAE Central Bank, met with the International Monetary Fund mission headed by Ali Al-Eid during the mission’s recent visit to the UAE, to review the country’s economic and financial developments. The IMF mission met with many decision-makers and policy makers from various government departments, to discuss developments in the monetary and financial system, future prospects, and priorities of financial policies and legislation in the UAE.
At the conclusion of the meetings, the International Monetary Fund praised the constructive dialogue with stakeholders from government departments, and issued a statement about the most prominent results they reached.
The International Monetary Fund also praised the social developments and pro-business measures that continue to attract talent and the influx of foreign capital and drive the country’s economic growth.
