IMF upgrades UAE's 2024 real GDP growth projection to 4%, driven by non-oil sectors.

The International Monetary Fund (IMF) upgraded the UAE's overall real GDP growth projection to 4% for 2024, driven by sectors such as tourism, construction, and financial services. Non-oil GDP now represents over 70% of overall GDP contribution, and the IMF attributes the higher growth estimate to accelerated public and private investment and structural reforms in renewable energy and technology.

May 20, 2024
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