Minister: The growth of the UAE economy will exceed expectations during 2023

Abu Dhabi – Mubasher: Abdullah bin Touq Al Marri, UAE Minister of Economy, expected that the national economy would continue to grow in 2023 at a rate higher than expectations, and that the UAE would be the second fastest growing economy in the Gulf region..

He pointed out that this is due to several reasons, including the rise in the purchasing managers’ index to the highest level in five months amid strong growth in new orders and the expansion of purchase stocks to reach their highest rate in five years, in addition to supporting the existing comprehensive economic partnerships and others that will come into force during the stage. The next, according to the Emirates News Agency, WAM.

He said that the UAE will continue to stimulate investments in health care systems, education and social safety nets, to increase the competitiveness of its economy.

He added that the state will work to strengthen the role of the private sector and support the areas of innovation and sustainability, to create more job opportunities in priority sectors, the most important of which is the health sector.

He pointed out that the UAE has strengthened the link between public health and economic growth within the framework of its vision for the future and its development policies in this regard, and that this sector will be among the priorities of economic development in the country during the next stage..

And Abdullah bin Touq Al-Marri expected earlier that the real GDP of the UAE would grow by 3.9 percent during the year 2023..

The World Bank expected the UAE’s real gross domestic product to grow by 2.8 percent at the end of this year.

He also expected the non-oil sector to achieve strong growth of 4.8 percent, due to strong domestic demand in the tourism, real estate, construction and other sectors..

The UAE recorded record growth rates in 2022, as the gross domestic product grew by 7.6 percent, which is one of the highest economic growth rates in the world.

The country’s non-oil foreign trade achieved a rate of 2.2 trillion dirhams for the first time in its history, and tourism spending increased by 70 percent in 2022, reaching 121 billion dirhams.

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