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UAE expects 3.9% economic growth in 2018

UAE expects 3.9% economic growth in 2018
The UAE’s GDP is forecast to rise by 3.9% in 2018

By: Amr Adel

Abu Dhabi – Mubasher: The UAE’s gross domestic product (GDP) is forecast to accelerate by 3.9% in 2018, the country’s minister of the economy said on Tuesday.

Speaking on the sidelines of the UAE economic outlook forum in Abu Dhabi, Sultan bin Saeed Al Mansouri noted that the UAE’s economic growth will range between 3.4% and 3.9% in 2018.

Recent studies by the Department of Economic Development (DED) in Dubai indicated that the emirate will mark a growth of 3.5% in 2018 and 3.7% in 2019.

This growth comes “in light of the anticipated external factors and positive implications on the economy which include the important strategic initiatives launched by Dubai government as part of Dubai Plan 2021,” a statement by the forum said.

One of the most important initiatives that will contribute to both Dubai’s and the UAE’s economic growth is the Expo 2020.

The fifth round of the UAE economic outlook forum commenced earlier on Tuesday with a focus on the role of foreign direct investments (FDIs) and commerce in bolstering innovation and production in the UAE.