uae GDP growth in 2021 news: UAE economy strengthens despite Kovid crisis; Achieved 3.8% growth – sheikh mohammed uae achieves 3.8% gdp growth in 2021 highest in the region

Dubai: The UAE’s economy has shown resilience despite the global crisis that has rocked the world. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that the UAE has not stopped moving forward despite the turmoil in the world economy and that the economy is growing.

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The ruler of Dubai shared the country’s gains on Twitter, citing figures from the UAE Statistics Center. He cited figures showing that the country’s gross domestic product (GDP) grew by 3.8 per cent in the last fiscal. This is the highest growth rate in the Arab region. He pointed out that the UAE is at the forefront of the Gulf region in terms of GDP growth. Sheikh Mohammed said that despite the World Bank’s forecast of 2.1 per cent growth, the UAE’s growth of 3.8 per cent was a great achievement.

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This is higher than the growth rate in 2019 before Kovid. He said the UAE central bank had forecast that the country’s economy would grow by 4.2 per cent this year, despite inflationary pressures. However, the central bank had forecast GDP growth of only 2.3 per cent last year.

At the same time, economic observers say the sharp rise in the country’s oil production and the surge in non – oil sectors will help the UAE to continue its growth rate this year. The expo and the country’s economic reforms are expected to attract more investors to the country.

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