UAE Aims for 7% Annual Growth to Reach Dh3 Trillion GDP by 2030
Episode description
Want to know more? Below my contact details
+971553523125
The International Monetary Fund (IMF) has raised the UAE's GDP growth forecast to 5.1% for 2025, an increase from its previous 4.2% projection.
This revision follows strong non-oil sector growth and stable crude prices. In May, the IMF also boosted its 2024 forecast for the UAE, now expecting 4% growth this year, up from 3.5%.
Key drivers of the UAE's robust economic performance include thriving tourism, construction, manufacturing, and financial services sectors, as well as increased foreign demand for real estate.
The country's safe-haven status and rising housing prices have further boosted domestic liquidity.
The UAE's non-oil sectors, particularly real estate, travel, and trade, have surged post-COVID-19, driving job creation and economic activity.
The UAE Cabinet has approved a record federal budget of Dh71.5 billion for 2025, supported by increased oil revenues and new corporate taxes.
The UAE aims to grow by 7% annually to double its GDP to Dh3 trillion by 2030.
Source: https://www.khaleejtimes.com/business/imf-hikes-uaes-gdp-growth-forecast-to-5-1-for-2025