UAE hopeful of 5%-6% economic growth in 2022 and beyond-min | Reuters
The United Arab Emirates (UAE) is hoping the economy will grow by 5% to 6% this year as it recovers from the pandemic, and by the same pace over the next few years to help double the economy by 2031, its economy minister said on Wednesday.
"The whole world is recovering and I think we are in a recovery phase after the pandemic, (but) predicting growth as well this year is a challenge," Abdulla Bin Touq Al Marri told Reuters on the sidelines of the "Investopia" conference in Dubai, referring to the Russia-Ukraine war and oil prices.
When asked if the economy will grow by 5% to 6% in 2022 as well, he said "that's what I hope, we are very ambitious, very positive... We want to double our economy by 2031."
The IMF expects the UAE economy to grow by 3% this year after it expanded by 2.1% in 2021.
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