UAE economy to grow at 4.9% in 2022 - IIF | ZAWYA MENA Edition
The UAE economy is rebounding from its deepest downturn in decades as oil prices recover and the country’s accelerated vaccination policy has allowed a broad-based reopening of sectors.
In a report on MENA economies, the Institute of International Finance (IIF) said it expects the real GDP growth to pick up to 2.2 percent in 2021 and 4.9 percent in 2022.
In September the UAE Central Bank had forecast the economy will grow 2.1 percent this year and 4.2 percent in 2022.
“The recovery is supported by one of the highest vaccination rates in the world, recovery in oil production, rebound in tourism, activities related to the rescheduled Expo 2020 in Dubai, and the September strategic vision to stimulate the economy,” said Garbis Iradian, Chief Economist, IIF.
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