UAE

Better and stronger performance of the UAE economy 2023

His Excellency Abdullah bin Touq Al Marri, Minister of Financial system, anticipated the UAE economic system to develop by about 6.5% in the course of the present yr and to exceed 7% in 2023. He added, in statements to reporters on the sidelines of the Funding in Sports activities Convention in Dubai yesterday, that the anticipated development is dependent upon world variables. Referring to the federal government’s efforts by means of applications and initiatives to take advantage of these world modifications and switch them into alternatives.

Bin Touq mentioned that the yr 2022 was distinctive for the expansion of the home product, and this development is as a result of restoration plan launched by the federal government, as the expansion of the home product exceeded the estimates of worldwide establishments, to succeed in 6.5% in an distinctive yr, and to succeed in 7% subsequent yr with higher and stronger efficiency than 2022.

The gross home product at fixed costs jumped 8.5% to about 817.2 billion dirhams, and the non-oil home product at fixed costs grew by 7.8%, with a price of 592 billion dirhams. Bin Touq identified that 15% of the economic system is dependent upon tourism and 15% is dependent upon aviation.

It’s noteworthy that the gross home product at fixed costs within the first half of 2022 elevated by 8.5% to 817.2 billion dirhams. Non-oil GDP rose at fixed costs to 7.8%, with a price of 592 billion dirhams, based on information from the Federal Heart for Competitiveness and Statistics.

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