He indicated in his statements on the sidelines of a press conference, held in cooperation with the Department of Economic Development in Abu Dhabithat projections estimate the growth of a country’s gross domestic product UAE The United Arab Emirates increased by 4.1 percent in 2023, with the growth of oil output by 2.7 percent, and non-oil output by about 4.7 percent.
He expected that the financial revenues in the UAE would be enhanced with higher revenues oilIn addition to the gradual recovery of the non-oil sectors, which leads to a fiscal surplus of approximately 4.4 percent of GDP during 2022, with the fiscal surplus increasing to about 5 percent in 2023.
Abu Suleiman estimated that the UAE would achieve a current account surplus of 11.2 percent of GDP during 2022, and rise to 11.9 percent in 2023, mainly supported by the bilateral free trade agreements recently signed by the UAE with Asian partners.
explained that Gulf Cooperation Council countries It witnessed a strong economic recovery after the epidemic corona This is in 2021 and until this year, in addition to its success in strengthening its public financial positions and the current account after being severely affected in 2020.
The Regional Director of the Gulf Cooperation Council at the World Bank indicated that easing restrictions related to the pandemic "COVID-19"In addition to the positive developments in the oil markets, it has led to a strong recovery during the past and current two years in all the countries of the Gulf Cooperation Council.
He expected the region to record a strong double surplus during 2022 and also in the medium term, driven by the rise in oil and gas prices, noting that the public finance balance of the GCC countries is expected to record a surplus of 5.3 percent in GDP in 2022, which is the first surplus recorded since a year 2014, while the external balance surplus of the GCC countries is expected to reach 17.2 percent of the GDP in 2022, and 14.6 percent in 2023.
He pointed out that in light of the strong performance recorded from the beginning of this year, it is expected that the economies of the Gulf Cooperation Council countries will achieve a growth of 6.9 percent during 2022, and that the gross domestic product of the GCC countries will reach two trillion dollars during 2022, to reach 6 trillion dollars. by 2050.
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Issam Abu Suleiman, Regional Director for Countries GCC BThe World Bank In an exclusive statement to the Emirates News Agency, he expected the UAE’s gross domestic product to grow by 5.9 percent during 2022, with oil output growing by 9.2 percent, and non-oil output by about 4.6 percent.
He indicated in his statements on the sidelines of a press conference, held in cooperation with the Department of Economic Development in Abu Dhabithat projections estimate the growth of a country’s gross domestic product UAE The United Arab Emirates increased by 4.1 percent in 2023, with the growth of oil output by 2.7 percent, and non-oil output by about 4.7 percent.
He expected that the financial revenues in the UAE would be enhanced with higher revenues oilIn addition to the gradual recovery of the non-oil sectors, which leads to a fiscal surplus of approximately 4.4 percent of GDP during 2022, with the fiscal surplus increasing to about 5 percent in 2023.
Abu Suleiman estimated that the UAE would achieve a current account surplus of 11.2 percent of GDP during 2022, and rise to 11.9 percent in 2023, mainly supported by the bilateral free trade agreements recently signed by the UAE with Asian partners.
explained that Gulf Cooperation Council countries It witnessed a strong economic recovery after the epidemic corona This is in 2021 and until this year, in addition to its success in strengthening its public financial positions and the current account after being severely affected in 2020.
The Regional Director for the Gulf Cooperation Council countries at the World Bank indicated that the easing of restrictions related to the “Covid-19” pandemic, along with positive developments in the oil markets, led to achieving strong recovery cases during the past and current two years in all Gulf Cooperation Council countries.
He expected the region to record a strong double surplus during 2022 and also in the medium term, driven by the rise in oil and gas prices, noting that the public finance balance of the GCC countries is expected to record a surplus of 5.3 percent in GDP in 2022, which is the first surplus recorded since a year 2014, while the external balance surplus of the GCC countries is expected to reach 17.2 percent of the GDP in 2022, and 14.6 percent in 2023.
He pointed out that in light of the strong performance recorded from the beginning of this year, the economies of the Gulf Cooperation Council countries are expected to achieve a growth of 6.9 percent during 2022, and that the gross domestic product of the GCC countries will reach two trillion dollars during 2022, to reach 6 trillion dollars. by 2050.