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FinancialNews


  • 07-06-22

    UAE economy increases 5.4 percent in 2022, set to 3.9 expand in 2023

    (MENAFN) The most recent numbers from the Central Bank of the UAE showed that the UAE economy is booming once more and is going to develop by a yearly 5.4 percent in 2022, motivated by the nation’s achievement in covering the health and financial effects of the COVID-19 epidemic.

    The 2022 real gross local output expansion approximation is bigger than the 4.2 percent forecast the CBUAE made two month ago, the banking regulator stated in its 2021 yearly report issued on Monday.

    The Arab world’s second-largest economy, which grew 3.8 percent last year, is estimated to increase a further 4.2 percent in the next year as increase motion remains.

    In line with central bank statistics the nation’s non-oil economy is going to increase by 4.3 percent in 2022 after rising 5.3 percent in 2021, however, the expansion is expected to decline to 3.9 percent in 2023.

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