UAE's economy to recover by 4.1% in 2021 - Fitch Solutions

Economic rebound is driven by lower oil production cuts and Dubai Expo

  
Dubai high rise buildings. Image courtesy Dubai Media Office Twitter handle.

Dubai high rise buildings. Image courtesy Dubai Media Office Twitter handle.

UAE - Mubasher: The UAE is projected to witness a robust economic recovery with a growth rate of 4.1% in 2021, according to a report by Fitch Solutions.

The report, titled "Recovery In Global Growth To Be Bumpy And Divergent," revealed that the UAE is among countries, including the US, South Korea, and Poland, which will achieve a strong economic recovery in 2021.

Fitch Solutions expected that the country will maintain an average growth of 4.1% from 2021 to 2024.

The economic rebound in the UAE is driven by looser OPEC+ production cuts and the Dubai Expo, set to commence in October 2021.

In July, Moody's Investors Service expected that the UAE's gross domestic product (GDP) will grow by 4.1% in 2021 after a 5% contraction in 2020.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From GCC