UAE - Mubasher: The UAE's real gross domestic product (GDP) is expected to climb by 3.3% in 2021, according to the International Monetary Fund's (IMF) World Economic Outlook on Tuesday.
The report assumed that the coronavirus (COVID-19) pandemic is likely to fade in the second half (H2) of 2020, leading to a gradual recovery of the global economy in 2021.
The report further remarked that the UAE's GDP is predicted to plunge by 3.5% in 2020 due to the COVID-19 outbreak, which caused a sharp decline in the global economy.
As for the other regional countries, Saudi Arabia's GDP is forecast to drop by 2.3% in 2020, Kuwait by 1.1% and Oman by 2.8%.
The IMP predicted that the Middle East and Central Asia region's economy will grow by 4% in 2021, versus its 2.8% slid in 2020.
