The UAE economy will grow by 3.9 per cent in the current year 2024 and by 6.2 per cent in 2025. This was reported by Emirates News Agency (WAM), a partner of TV BRICS, citing data from the Arab Monetary Fund (AMF).

Analysts claim that the positive trend in the UAE economy is driven by continued growth in tourism activity, a revival in the property market, and international trade.

The fund’s report also notes that the country’s financial system is showing strong fundamentals, supported by a vibrant non-oil sector and solid government and monetary policies.

The Emirates’ economic position is largely dependent on its strategic initiatives to consolidate its position as a global centre of trade and finance, continuous infrastructure development, a strong regulatory framework that attracts foreign investment, and an emphasis on innovation, growth, and technology-based sectors.

The report explains that the UAE experienced significant economic growth of 7.5 per cent in 2022, driven by successfully overcoming the challenges that emerged after the COVID-19 pandemic.

African Times published this article in partnership with International Media Network TV BRICS