The Dubai Department of Economic Development (Dubai Economy) expects that the emirate's economy will contract by 6.2% in 2020.
According to CNBC Arabia, a report prepared by Dubai Economy indicated that the emirate's economy declined during the first half of the year 2020 by 10.8% due to the Corona pandemic, which affected a lot Negative for hotels and restaurants, which are expected to witness a 20% contraction.
This is followed by the transport sector, at 11%, and then retail trade, at nearly 9%.
On the other hand, the report indicated that Dubai's economy will grow by 4% in 2021.
