UAE GDP Growth Expected to Reach 3.3% in 2024, World Bank Report Reveals

 


The World Bank's latest report forecasts promising growth for the UAE’s economy, with GDP projected to rise to 4.1% by 2025, up from 3.3% in 2024. This economic expansion is driven largely by the UAE's thriving non-oil sector, highlighting the nation's successful diversification efforts. Additionally, the UAE is expected to maintain a real GDP per capita growth of 2.5% in 2024, further increasing to 3.4% by 2025.

The country's fiscal health remains strong, with fiscal surpluses of 4.9% and 4.7% of GDP projected for 2024 and 2025, respectively. Despite a slight decline in the current account surplus, the UAE’s economic outlook remains positive. Growth within the GCC region is expected to strengthen as well, benefiting from this trend.

Overall, the UAE's strategic investments in non-oil sectors ensure sustained growth, positioning it as a leader within the MENA region.

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