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Monday, 23 January 2017

Reins loosen on Abu Dhabi’s austerity as diversified economy bodes well for UAE | The National

Reins loosen on Abu Dhabi’s austerity as diversified economy bodes well for UAE | The National:

"The UAE’s economy is set to perform better in 2017 than the previous year, which proved to be slower and more challenging. Overall growth will reach 2.8 per cent in 2017 from 2.1 per cent in 2016. The outlook for the UAE is quite positive given its more diversified nature compared to other more oil-dependent economies of the Arabian Gulf. Oil prices are on the cusp of recovery following last year’s Opec accord, which is proving to be reassuring for the UAE as well as the rest of the Gulf economies. Dubai’s hosting of Expo 2020 will drive government spending and investment. The event will draw in a large number of visitors, boosting private consumption and services exports."



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