According to the latest MENA economic update, the United Arab Emirates' GDP will grow by 3.3 percent in 2024, the World Bank said in a report.
According to
Amac News: The World Bank report states that the UAE's gross domestic product will increase to 4.1 percent in 2025.
The report titled "Growth in the Middle East and North Africa" notes that the UAE is expected to lead the way with a real per capita GDP growth rate of 2.5% in 2024 and 3.4% in 2025 due to strong growth in the non-oil sector.
According to the report, the UAE's current account surplus is expected to decline to 7.5% of GDP in 2024 from 9.2% in 2023.
The report also states that the UAE is expected to maintain a fiscal surplus of 4.9 percent of GDP in 2024 and 4.7 percent in 2025.
The growth of the GCC countries is expected to increase to 4.2% in 2025, up from 1.9% in 2024. The growth of developing oil exporters in 2024 is predicted to be 2.7% and for developing oil importers to be 2.1%.
The report forecasts that the region's GDP growth will average 2.2 percent in 2024, up from 1.8 percent in 2023.
The growth of oil importers is projected to decrease from 3.2 percent in 2023 to 2.1 percent in 2024, and the growth of non-GCC oil exporters is projected to decrease from 3.2 percent to 2.7 percent.