The Japanese financial group Mitsubishi UFG expects that Dubai's economy will contract by 5.2 percent this year due to the Corona pandemic, but it may witness a rebound in growth to record 4.3 percent Next year.
According to Reuters, Mitsubishi stated in a report that while the vital economic sectors in the emirate have been hit hard by the global health crisis, indicators predict a return to economic activity Its nature.
seasonally adjusted IHS Market PMI rose to 51.7 in July from 50.0 in June, the highest reading since December The first from last year, which indicates improved conditions for companies.
said Ihssan Khoman, Head of Middle East and North Africa Research and Strategies at the bank, said Dubai was more exposed to the Coronavirus crisis than other regional economies as more than a third of its economy - trade Wholesale, retail, transport, entertainment and hospitality - are clearly vulnerable to physical distancing measures and travel restrictions.
but added that the wealth of the federal government of the United Arab Emirates protected it from the crisis and that Dubai's diversified economy made it recover quickly.
and he said, "We expect Dubai's economy to contract by 5.2 percent in 2020, but next year’s recovery will be strong at 4.3 percent as foreign demand recovers and the postponed Dubai Expo attracts large numbers." Most likely tourists.
Dubai was preparing to increase income and economic activity from hosting the exhibition during the current year, but it was decided to postpone it for a year due to the pandemic.
(Amazon fun knowledge)
