Dubai economy to grow by 2.4% in 2019 supported by economic activity: S&P | ZAWYA MENA Edition:
Economic activity in Dubai has weakened in recent years, with the GDP growing last year at its slowest pace in nine years. However, increased economic activity triggered by Expo 2020 Dubai and traditional growth engines could pump up the emirate’s growth over 2019-2022.
S&P Global Ratings on Tuesday said that it expects a marginal pick-up in economic growth of the emirate to 2.4 percent in 2019, with support coming largely from the construction and real estate sectors. The economy grew by 1.94 percent in 2018, its slowest pace since a 2009 contraction when the economy was in the midst of a debt crisis.
"We expect the completion of Expo 2020-related infrastructure projects and additional residential housing supply to enter the market from existing projects this year," the report noted.
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