A report issued by the World Bank expected that the real GDP of the UAE will grow by 2.6% this year, to rise to 3% in 2020, and to 3.2% by 2021, supported by capital spending plans on projects Infrastructure, especially with hosting Expo 2020 Dubai.

According to Al Bayan newspaper, the World Bank predicted in its report on the latest economic developments in the Middle East and North Africa, entitled reforms and external financial accounts, the growth of average per capita real GDP in the UAE by 1.1% during the current year, To rise to 1.6% next year, and to 1.9% in 2021, weighted.

Likewise, the current account balance increased to 7.8% of GDP during the current year, compared to about 7.2% in 2018, as well as the rise in the public finance balance to 0.6% and to 1% in 2020 and 1.3% in 2021.

The World Bank predicted in its report that growth in the Gulf Cooperation Council countries will reach 2.1% in 2019, an increase of 0.1% from 2018.

The World Bank attributed the expected recovery in the growth rates in the cooperation countries to several reasons, including, indirectly, the policies that reduced the GCC countries' dependence on oil revenues, as the GCC countries adopted plans for capital spending that can be paid for, pointing to That previous fiscal reforms have begun to pay off in the form of fiscal space, which will support capital expenditures, which in turn will boost growth in the short term.

capital flows

On the other hand, the World Bank indicated that it expects the inclusion of 5 countries in the region on the GB Morgan index of emerging market bonds, capital flows from investors in international bonds, pointing out that the nine months of 2019 will witness The sovereign and quasi-sovereign bond issuers from the UAE, Saudi Arabia, Bahrain and Kuwait gradually enter the diversified global index and the global index in the emerging market bond index GB Morgan, expected to lead to a significant increase in the demand for sovereign bonds of the cooperation countries.

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