IMF predicts increase in UAE’s GDP growth rate.

ABU DHABI : The International Monetary Fund (IMF) has predicted that the UAE’s GDP growth rate will increase by 0.9% to 5.1% next year. This is against the backdrop of growth in non-oil sectors and stable crude oil prices. The growth rate for the current year was 4.2 percent.
Ali Al-Aid, head of the IMF staff team, said that tourism, construction, manufacturing and financial services sectors have seen strong growth. The growth rate is expected to rise further due to UAE’s high crude oil production and hydrocarbons.