Monetary Fund: 3.4% growth of Dubai's economy in 2021

The International Monetary Fund expects that Dubai's economy will grow by 3.4% during the year 2021, supported by the expected momentum for the emirate to host Expo 2020 next October and the improvement in the performance of non-oil sectors.

According to recent data from the IMF, the increase in Dubai's economic growth to 3.4% this year, coincided with raising its expectations for the growth of the UAE's economy this year from previous expectations last October amounted to 1.3% to 3.1%, as in April 2021.

The Fund attributed its expectations for the growth of Dubai's economy and the national economy this year to the expected momentum with the emirate hosting the Expo 2020, which in turn will contribute to the recovery of many sectors and economic activities, as well as to the success of the large and early population vaccination program undertaken by the UAE, as well as the high oil prices.

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