Dubai – Mubasher: Standard & Poor's Ratings Services (S&P), on Thursday, expected the gross domestic product (GDP) of Dubai to rise in the range of 2.5%-3.5% in the period between 2016 and 2017.
The emirate’s GDP in constant prices neared AED 365.5 billion by the end of 2015, 3.5% up from AED 352 billion reached in 2014, according to figures by Dubai Chamber of Commerce and Industry.
Although Dubai’s economy doesn’t rely mainly on oil, the indirect impact of falling oil prices, including weak purchasing power, led to a slowdown in the activities of non-oil companies, the agency said.
