UAE economy to post 2.5% growth this year after 5.8% contraction - central bank | Reuters
The United Arab Emirates economy shrank by 5.8% last year but is expected to post a 2.5% growth this year, the UAE central bank said in a report on Thursday.
The coronavirus crisis last year had a severe impact on the Gulf state, due the twin shock of low oil prices and the impact on vital non-oil economic sectors such as tourism.
Real non-hydrocarbon gross domestic product declined by 5.7% last year, according to central bank estimates.
No comments:
Post a Comment