RIYADH: The Central Bank of the UAE has revised up its forecast for the country’s real gross domestic product to reach 4.2 percent in 2023, up from its previous projection of 3.3 percent.
According to its annual report for 2021, the bank expected the non-oil GDP growth to reach 3.9 percent in 2023, up from its previous estimate of 3.3 percent, Emirates News Agency reported.
Oil GDP growth is projected to reach 5 percent next year, compared to 3.4 percent in earlier estimates.
This happens as the UAE’s economic activity begins to grow again due to the country’s economic measures.