IMF lifts UAE growth forecasts on oil, state spending | Reuters:
The International Monetary Fund lifted its forecasts for economic growth in the United Arab Emirates because of expectations that oil production and state spending will rise.
The Arab world’s second biggest economy is now likely to expand 2.9 percent this year and 3.7 percent next year, Natalia Tamirisa, IMF mission chief to the country, said late on Sunday. Gross domestic product grew 0.8 percent in 2017, preliminary UAE data shows.
In April, the IMF had predicted GDP would expand 2.0 percent this year and 3.0 percent next year.
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