UAE - Mubasher: The Central Bank of the UAE (CBUAE) has expected growth in the UAE's real gross domestic product (GDP) to 4.2% in 2023, the Emirates News Agency (WAM) reported.
The CBUAE has revised its previous forecast of 3.3% for the country's real GDP growth.
In its annual report for 2021, the central bank projected that the non-oil GDP growth would register 3.9% in 2023, compared with its previous estimates of 3.3%, while the oil GDP growth would reach 5% up from 3.4%.
In 2022, the real GDP growth is expected to record 5.4%, following its growth to 3.8% in 2021.
The UAE is projected to witness a growth in the non-oil GDP to 4.3% in 2022 amid sustainable government spending, a positive outlook for loan growth, and an improvement in business sentiment.
Meanwhile, the oil GDP growth is anticipated to grow 8% in 2022, attributed to the expected recovery in global demand.
