The UAE economy will grow by 4.1% this year, says the World Bank.
The growth forecast is positive considering difficult global economic conditions said Issam Abu Suleiman, the Regional Director of the Gulf Cooperation Council at the World Bank.
He said: “The UAE economy has secured good performance in the past year, and we expect it to continue with the same performance in 2023,” on the sidelines of the Abu Dhabi Economic Summit.
UAE economic growth
Abu Suleiman credited the United Arab Emirate’s economy’s anticipated growth to a number of factors, the most important of which are government efforts to diversify the economy, a business-conducive ecosystem, ease of doing business, and sophisticated infrastructure.
He emphasised the significance of the Abu Dhabi Economic Summit, saying it “brings together several policymakers and prominent specialists in the fields of business, finance, and technology from around the world, in an effort to open new horizons for growth and development.”
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