Dubai – Mubasher: The UAE’s economy is forecast to grow 3.4% in 2018, compared to 2% a year earlier, according to a report released by Emirates NBD Bank.
The sluggish growth in 2017 could be attributed to the decline in oil output, but oil prices are expected to recover this year, the report found.
The growth of the UAE's non-oil sector will boost investments in infrastructure as Expo 2020 Dubai approaches, the bank revealed.
The Dubai Expo 2020 is a $7 billion exhibition project expected to attract 25 million visitors.
The UAE's residents consumption will probably decrease on the back of the increases in taxes and fuel prices, the UAE-based bank concluded.
