World Bank Forecasts Positive Economic Growth for UAE

The World Bank has revised its economic forecasts for the UAE, indicating a positive outlook for the country's growth in the coming years. According to the latest economic update, the UAE's real GDP growth is projected to reach 3.9% in 2024, up from the previous forecast of 3.7%. Additionally, the World Bank has raised its forecast for the UAE's economic growth to 4.1% in 2025, compared to the earlier estimate of 3.8%.

The report highlights that the UAE is expected to see an increase in its current account surplus, reaching 8.4% in 2024 and 8.3% in 2025. Furthermore, the country is on track to achieve a surplus of 5.1% in its fiscal balance by the end of this year, with a projected surplus of 4.8% in the following year.

Looking at the broader Middle East and North Africa (MENA) region, the World Bank forecasts a growth rate of 2.7% in 2024, signaling a return to the pre-pandemic levels of growth. For 2025, the MENA region is expected to experience a more robust growth rate of 4.2%.

These revised forecasts suggest a positive economic trajectory for the UAE and the MENA region, indicating potential opportunities for growth and development in the coming years.