Abu Dhabi's economy is likely to grow 3.9 percent this year, lagging previous forecasts, but should pick up in the next few years helped by further diversification away from oil, the Department of Economic Development said on Monday.
A drop in oil production this year is expected to curb economic growth in Abu Dhabi, the largest of the seven members of the United Arab Emirates. The department, in an inaugural report on Abu Dhabi's development outlook, said the government should keep spending to support growth although it said the focus of spending was shifting to social projects.
Abu Dhabi accounts for 65 percent of UAE economic output and almost all of its oil production.
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