Page 737 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

2/25/25, 3:24 PM UAE national economy to grow from 5% to 6% in 2025: Minister
supported by clear strategies that strengthen the new economic model based on knowledge,
innovation, and advanced technology.

World Bank forecasts 3.4% growth for Gulf economies in 2025: The World Bank projects that the
economic growth rate of Gulf countries will reach 3.4 per cent in 2025, rising to 4.1 per cent in 2026,
compared to an expected 3.3 per cent growth rate for the Middle East and North Africa (Mena) region
as a whole.

Ousmane Dione, World Bank Vice President for the Middle East and North Africa, stated that while
the region’s economic outlook remains positive, growth rates will vary between oil-producing and oil-
importing countries.

Speaking to the Emirates News Agency (WAM) on the sidelines of the World Governments Summit
2025 (WGS) in Dubai, Dione highlighted that the GCC countries maintain a strong economic position
thanks to their diversification efforts. In contrast, other countries in the region continue to face
challenges related to conflicts and instability.

He noted that Gulf economies benefit from substantial investments in non-oil sectors, providing them
with a competitive advantage over countries struggling with geopolitical instability.

In a separate context, Dione discussed the Memorandum of Understanding signed between the World
Bank and the Mohamed Bin Zayed Water Initiative. He stated that this partnership aims to address
water security challenges in the region and beyond.

He also highlighted that the Mena region accounts for approximately 55 per cent of the world’s
desalinated water production. However, he emphasised the importance of exploring alternative
solutions such as water reuse, improved resource management, and integrating artificial intelligence
and modern technologies to track leaks and enhance smart irrigation systems for greater efficiency.

Bolivia banks on its largest lithium reserves to attract FDI: Alejandro Baldivieso, Bolivia’s Minister of
Hydrocarbons and Energy, affirmed that his country is pursuing an ambitious energy transition policy
aimed at enhancing renewable energy sources and utilising its natural resources, particularly lithium.

Speaking to the Emirates News Agency (WAM) during his participation in the World Governments
Summit in Dubai, Baldivieso emphasised the importance of this international gathering, which focuses
on development and technological innovation while prioritising the well-being of people.

Baldivieso noted that Bolivia currently relies on an energy mix consisting of 67% thermal energy and
33% renewable energy. However, the country has devised an ambitious plan extending until 2033,
aiming to increase the share of renewable energy to 65%.

He explained that this plan focuses on expanding solar, wind, and hydroelectric power capacities,

leveraging Bolivia’s natural resources, such as high solar radiation levels in the western regions and
air density in the eastern areas.

The minister added that Bolivia holds some of the world’s largest lithium reserves, providing it with a
strategic advantage in achieving a sustainable energy transition. The availability of lithium plays a
crucial role in developing the storage capacities necessary to ensure the stability of renewable energy
sources.

https://www.gulftoday.ae/business/2025/02/12/uae-national-economy-to-grow-from-5-to-6-in-2025-minister 2/3