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FinancialNews
18-04-19
IMF expects nominal GDP of UAE to increase over 4 pct in 2019
(MENAFN) The International Monetary Fund (IMF) estimated the nominal GDP of the United Arab Emirates (UAE) to increase 4.7 percent to 1.673 trillion dirhams (USD450 billion) this year, official Emirates News Agency (WAM) reported Wednesday.The upsurge indicates UAE's robust economic growth on a policy of resource diversification in the past few years, the IMF stated.In the meantime, the UAE's central bank predictable the country's real GDP to upsurge 4.2 percent in 2019, where oil and non-oil sectors will develop 5.2 percent and 3.7 percent respectively.Particularly, this expected GDP jump can also be attributed to the nonstop development in the oil prices as the average rate for a barrel per day (bpd) is expected to upsurge to 72.3 dollars in 2019 from 71.9 dollars in 2018, according to the IMF statistics.
MENAFN1804201900450000ID1098406691
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