UAE GDP expected to grow according to World Bank report

The UAE’s GDP is expected to grow 3.9 per cent in 2024 and expand to 4.1 per cent in 2025, according to the Global Economic Prospects report from the World Bank.

In April, the World Bank raised its forecast for real GDP growth in the UAE to 3.9 per cent in 2024, compared to its January forecast of 3.7 per cent.

Growth in the Middle East and North Africa is expected to increase 2.8 per cent in 2024 and 4.2 per cent in 2025.

The report predicts growth in Gulf Cooperation Council (GCC), countries will strengthen to 2.8 per cent in 2024 and 4.7 percent in 2025.

The economies of oil exporters are projected to grow by 2.9 per cent and 4.2 per cent in 2024 and 2025 respectively, while those of oil importers are forecast to deliver growth of 2.9 per cent and 4 per cent in 2024 and 2025 respectively.