Emirates Bank expects the economy to grow 2.1% in 2021

Today, Wednesday, the Central Bank of the UAE predicted that the UAE’s real GDP growth will reach 2.1% in 2021.

At the same time, the Central Bank of the UAE had expected real GDP growth to grow at a faster pace to 4.2% in 2022, citing Reuters.

Dubai’s Department of Economic Development, “Dubai Economy”, had announced economic growth forecasts for the emirate during the next phase, expecting to reach a growth rate of 3.1% in 2021, and to accelerate the rate in 2022 to register 3.4%, supported by several factors, the most important of which is the hosting of “Expo 2020 Dubai” “.

The agency, Standard & Poor’s, expected the UAE’s economy to grow 2.7% over the year in current and next, but the growth rate would drop to 2% in 2023 and 2024.

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