Economists have raised their forecasts for UAE growth this year as higher oil output helps to provide a buffer against ripples from a slower global economy.
GDP expansion will reach 3.3 per cent this year, up from a previous forecast of 2.6 per cent, National Bank of Abu Dhabi(NBAD) said in a regional economic outlook report released yesterday.
HSBC lifted its forecast by 0.9 percentage points to 3.7 per cent, according to the report.
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