Recovery to begin next year as oil prices look up

The UAE economy will start recovering from next year with international oil prices hitting $50 (Dh183.5) for a fast acceleration for the next 10 years as the global economy comes back to normal, said a British economist.

Robin Bew, Editorial Director and Chief Economist at the UK-based Economist Intelligence Unit, who was in the capital to have a roundtable with Abu Dhabi Government officials, in an exclusive interview told Emirates Business that the UAE was set for an accelerated growth from the next year after seeing some severe downturns this year.

At the roundtable last week that was closed for the press, Bew presented a 27-page comprehensive report on the country's economy to the government officials and discussed how to attract further foreign investment in the country.