The International Monetary Fund has expected that the UAE economy will grow by 3.1% this year, compared to the 1.3% it had expected in its latest report issued last October.
According to the Emirati newspaper, Al Khaleej, the director of the Middle East and North Africa at the Fund, Jihad Azour, expected that the country's non-oil economy would record during the current year, an average growth To 3%, with many indicators that reflect the recovery of activities at the level of non-oil sectors.
Azour added that the fund raised its growth estimates for the local economy from a contraction of 6.6% to 5.9%, with surpassing expectations in the fourth quarter of 2020.
and pointed out that the success of the vaccination program in the UAE and the economic performance that exceeded expectations in the last quarter of last year with the return to normal economic activity in many sectors in The state contributed to raising the Fund's expectations for economic growth in the current year and improving growth estimates in 2020.
He explained that the UAE has demonstrated efficiency in managing the first wave of the emerging corona virus (Covid 19), and has accelerated economic adaptation to the crisis and its consequences by adopting various measures at this level.
Azour pointed to the importance of the initiatives adopted by the UAE in the recent period, including the passage of a public debt law that paves the way for a local debt market.
