UAE economy to grow 3.5% in 2019, says central bank

11/03/2019 Argaam

The UAE's economic growth is expected to accelerate to 3.5 percent in 2019, helped by strong non-oil activity, Reuters reported, citing the central bank data.

 

Economic activity in the non-oil sector will improve this year due to the effects of fiscal stimulus packages announced by Abu Dhabi and Dubai, it noted.

 

The non-oil sector will grow 3.4 percent in 2019, up from an estimated 2.6 percent last year. Oil sector growth is expected at 3.7 percent compared to 3 percent in 2018.

 

The economy grew 2.8 percent in 2018, supported by a rise in oil production and growth in the non-oil sector, the central bank added.

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