The UAE economy, the second largest in the Arab region, is projected to increase by around 70 billion UAE dirhams ($19 billion) in 2024, according to official data.

From about AED1.83 trillion ($498.6 billion) in 2023, the country’s GDP in current prices is expected to swell to nearly AED1.9 trillion ($517.6 billion) in 2024, the Economy Ministry said in its 2023 report published recently.

Real GDP is forecast to grow by 3.9 percent in 2024 compared with 3.5 percent in 2023, according to the report, which cited domestic and IMF estimates.

The increase will boost the UAE’s real GDP per capita from around $72,000 to $73,600, the report said.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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