UAE economy to grow 2.1% this year, central bank says

"Economic activity in the UAE continued its recovery in the second quarter, with growth reaching almost pre-COVID-19 levels," the central bank said

  
General view of the Central Bank of UAE on January 3, 2017

General view of the Central Bank of UAE on January 3, 2017

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DUBAI - The United Arab Emirates' economy will grow 2.1% this year and 4.2% in 2022, the central bank said on Wednesday, as the Gulf state rebounds from the coronavirus downturn.

"Economic activity in the UAE continued its recovery in the second quarter, with growth reaching almost pre-COVID-19 levels," the central bank said in its quarterly economic review.

Separately, Dubai - one of the UAE's emirates - said on Wednesday it expects economic growth of 3.1% this year and 3.4% next year.

(Reporting by Shakeel Ahmad and Davide Barbuscia; Editing by Kevin Liffey) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))


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