2023-10-05 12:43:42
Thursday, October 5, 2023 – 4:42 p.m
Washington, 5 October / WAM / The World Bank expects the real GDP of the United Arab Emirates to grow by 3.4% at the end of the current year 2023, rising to 3.7% next year 2024.
The World Bank said, in its latest report on economic developments in the Middle East and North Africa region, that the UAE’s real GDP per capita is expected to grow by 3.4% in 2023, with this growth rising to 3.7% next year, 2024.
The report expected that the current account balance in the UAE would rise to 12.4% in 2023 and 11.8% in 2024, and that the UAE would achieve a surplus in the public finance balance by 5.2% in 2023, and by 4.6% in 2024.
The World Bank report estimated the growth of the economies of the Gulf Cooperation Council countries at 1% in 2023, rising to 3.6% next year.
He pointed out that the economy of the Kingdom of Saudi Arabia will grow by 4.1% in 2024, while the economy of Kuwait will grow by 0.8% in 2023, rising to 2.6% in 2024.
According to the report, the Qatari economy is expected to grow by 2.8% in 2023, and by 2.5% in 2024, while the Sultanate of Oman’s economy will grow by about 1.4% in 2023, rising to 2.7% in 2024, while Bahrain’s economy is expected to grow by 2.8% in 2023, rising. To 3.3% in 2024.
The World Bank report estimated that the economies of oil-importing countries will grow by 3.6% in 2023 and 3.4% in 2024, as the economy of the Arab Republic of Egypt is expected to grow by 4.2% by the end of this year, Tunisia by 1.2%, Jordan by 2.6%, and Morocco by 2.8%.
Rami Samih/Ibrahim Nuseirat
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