DUBAI- The United Arab Emirates has revised downwards its expectations for economic growth in 2019, with real gross domestic product (GDP) now expected to grow 2% this year, the central bank said on Tuesday.
In its last quarterly report in March, the central bank said it expected GDP to grow 3.5%.
Economic growth coming from the oil sector is expected to be 2.7%, against 2.8% last year, because of lower oil production, the bank said in a statement.
Non-oil GDP growth instead is expected to be 1.8%, against 1.3% last year.
(Reporting by Davide Barbuscia; Editing by Saeed Azhar) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: email@example.com))