The Central Bank of the Emirates expects that the UAE economy will grow by 2.1% in the current year 2021 and by 4.2% in 2022, in line with the country’s recovery from the slowdown caused by the Corona pandemic.
According to Arab Net, the Central Bank stated in its quarterly economic review that economic activity in the UAE continued to recover in the second quarter of the year, with growth approaching some levels. Before COVID-19, quoted by Reuters.
The Department of Economic Development in Dubai, Dubai Economy, had announced the emirate's economic growth forecasts during the next stage, expecting a growth rate of 3.1% in 2021, and for the rate to accelerate In 2022, it will record 3.4%, supported by several factors, the most important of which is the hosting of Expo 2020 Dubai.
Standard & Poor's had forecast that the UAE economy would grow by 2.7% during the current and next year, but the growth rate would decline to 2% in 2023 and 2024.
