A recent report from the World Bank predicts that the UAE economy will grow 3% annually over the next two years. It is estimated that the country's GDP will grow by 2.6% this year.
The report said that the UAE economy will be among the largest economies in the MENA region, along with the economies of Egypt, Morocco, Oman and Djibouti during the year 2022.
The report revealed that regional growth in the Middle East and North Africa slowed to an estimated 0.1% during 2019 against the backdrop of geopolitical constraints and their effects on oil sector production, which led to impacts in oil-exporting economies, expecting regional growth to reach 2.4% in In 2020 and to about 2.8% in 2021-22, due to infrastructure and business climate reforms, indicating that weak global growth has led to a decline in oil and export demand, which has caused more obstacles to economic activity in the region.