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Projected UAE economic growth by 3.8% between 2019 and 2023

PUBLICATIONS / Articles / 2019 / Projected UAE economic growth by 3.8% between 2019 and 2023
The UAE economy is projected to achieve an average GDP growth rate of 3.8 per cent between 2019 and 2023. According to Dubai Chamber of Commerce and Industry the growth will be supported by investment flows and private consumption increase. 

The Manager, PR and Corporate Communications of Dubai Chamber of Commerce and Industry, Ruba Abdel Halim, stated that the findings of the analysis, based on the Dubai Chamber UAE Macroeconomic Model, were disclosed during a business seminar hosted by Dubai Chamber. The same examined growth projections for the UAE and world economies, Dubai’s top export markets, and the most appealing export opportunities for traders in Dubai. Moreover, the analysis projects key aspects boosting economic activity in the UAE. The aspects include fiscal policy, growing construction and infrastructure investment for Expo 2020. The same will affect private purchase of general products. 

It is important to note that the actual GDP for non-oil sector is estimated to grow by 4.1 per cent between 2019 and 2023. In 2014 and 2018 the growth was 2.8 per cent.  In the next 5 years the leading sector will be transport and communication with 7.9 per cent, followed by 4.2. per cent construction, 3.8 per cent real estate and business services.  

An additional factor is the decreasing expenses cost for conducting business in the UAE. The decreasing rental fees for commercial spaces and attractive options from various business centres are indeed good indicator. 

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