#UAE, #Saudi economies to bounce back in 2021, says IMF - Arabianbusiness

UAE, Saudi economies to bounce back in 2021, says IMF - Arabianbusiness:

The UAE’s economy will rebound 3.3 percent in 2021 as the Gulf economies grow after contracting as a result of the global coronavirus, according to a new economic outlook from the International Monetary Fund.

According to the IMF’s World Economic Outlook, the UAE’s economy will contract 3.5 percent in 2020 amid the pandemic, but is expected to grow 3.3 percent in 2021.

Collectively, the economies of the Middle East and North Africa are also expected to contract 3.3 percent before rebounding to 4.2 percent growth in 2021.