Abu Dhabi – Mubasher: The UAE’s economy is expected to witness an economic recovery in the coming two years due to the increase in oil prices, according to a recent report released by the World Bank (WB).
The GCC nation’s economy is forecast to grow by 3.1% in 2019 and 2020, the Washington-based lender said.
Gulf nations including the UAE are expected to achieve financial stability by 2020, the report found.
The UAE’s gross domestic product (GDP) is projected to hit 2% this year from 3% a year earlier, the WB noted.
the report added that the Arab nation's deficit is expected also to turn to surplus with 0.5% of the total GDP by 2020.
