UAE, 17 October, 2024 : The World Bank has projected that the UAE's GDP will grow by 3.3% in 2024, increasing to 4.1% in 2025. This forecast comes from the latest semi-annual MENA Economic Update, titled "Growth in the Middle East and North Africa."
The report highlights that the UAE is expected to lead the region with real GDP per capita growth rates of 2.5% in 2024 and 3.4% in 2025, driven primarily by robust non-oil sector performance.
Despite ongoing diversification efforts, the UAE’s current account surplus is anticipated to decline to 7.5% of GDP in 2024, down from 9.2% in 2023. The UAE is projected to maintain fiscal surpluses of 4.9% in 2024 and 4.7% in 2025.
For the broader MENA region, growth is forecast to reach 3.8% in 2025, with GCC countries expected to strengthen their growth to 4.2%, up from 1.9% in 2024. In contrast, growth among oil importers is projected to slow from 3.2% in 2023 to 2.1% in 2024.
Source : www.zawya.com
