Page 253 - MOE ENGLISH PR REPORT - FEBRUARY 2024

3/4/24, 5:24 PM Investopia 2024: UAE GDP likely to grow by 5%, says minister
Tatiana Leskova, associate director of corporate ratings at S&P Global, said in
January that UAE’s GDP is likely to touch 5 percent this year.
Growth will be driven by strong momentum in the hospitality, wholesale and retail,
and financial services sectors, she said.

Earlier this month, the agency revised its forecast upwards, and projected the GDP to
grow at 5.3 percent.
The forecast, however, pales in comparison to the projections by the UAE Central

Bank late last year.
It expected the country’s economy to grow at 5.7 percent, in a forecast issued in
December.
For more news on economy, click here.

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