UAE economy to grow 3.5% in 2019, says central bank

2019-03-11 07:33:30 GMT (Economies.com)
 

The United Arab Emirates' economy is expected to grow 3.5 % in 2019, with a faster pace than last year, backed by non-oil economic activity, the central bank said in its quarterly report.

 

The report said the economy had grown at 2.8 % in 2018, helped by a rise in oil production and growth in the non-oil sector, after 0.8 % growth in 2017.

 

It said economic activity in the non-oil sector would improve further in 2019 due to the effects of fiscal stimulus packages announced by Abu Dhabi and Dubai. 

 

The International Monetary Fund said in February that it expects the UAE's economy to grow by 3.7 percent in 2019.

 

The central bank also said property prices continued to fall in the fourth quarter in Abu Dhabi and Dubai.

 
 
 
  Symbol Last Change Chg.%
1.1606
0.0036
0.3139%
1.3751
0.0123
0.9053%
Tadawul
11773.36
25.09
0.21%
23.335
0.700
3.090%
82.022
0.902
1.112%
84.86
0.86
1.02%
1767.855
13.150
0.749%
 
 
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