Moody's credit rating agency expects the UAE's GDP to grow by 3.2% this year, amid expectations that the average price of a barrel of oil during 2019 and 2020 will reach $ 62 a barrel.
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The agency also predicted in a report seen by Namazon, the growth of the non-oil sector and its recovery, due to the increased spending of the UAE government on infrastructure projects, in addition to the stimulus packages announced in the country recently.
Moody's noted that the creditworthiness of UAE property companies that are subject to their rating will remain stable for the next 12 to 18 months.
In its report, the agency expected that the stimulus package approved by the Abu Dhabi government in 2019 would lead to the growth of non-oil GDP in the emirate by 3.3% in 2019, compared to the growth of 2.5% expected during 2018.
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