UAE’s economy to grow 3% in 5 years: IMF

The UAE’s economy is likely to advance by 2% in 2018

  
A man walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, U.S., May 10, 2018.

A man walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, U.S., May 10, 2018.

REUTERS/Yuri Gripas

Abu Dhabi – Mubasher: The International Monetary Fund (IMF) expected the UAE’s economic growth to reach 3% in the next year until 2023.

In 2018, the UAE’s economy is likely to advance by 2%, the Washington-based fund added.

The UAE’s gross domestic product (GDP) at current prices is forecast to increase to around AED 1.89 billion by 2023, against AED 1.51 billion expected in 2018, while the Arab country's GDP at constant prices is forecast to hit AED 1.66 trillion in the same period, compared to AED 1.43 trillion this year, according to the IMF's data.

The IMF further projected the GCC nation’s inflation to stabilise at an average of 2.2% in the next five years.

Source: Mubasher

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