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UAE economic growth expected at 2% in 2019 - central bank

UAE economic growth expected at 2% in 2019 - central bank

The United Arab Emirates has revised downwards its expectations for economic growth in 2019, with real gross domestic product (GDP) now expected to grow 2% this year, the central bank said on Tuesday.

In its last quarterly report in March, the central bank said it expected GDP to grow 3.5%.

Economic growth coming from the oil sector is expected to be 2.7%, against 2.8% last year, because of lower oil production, the bank said in a statement.

Non-oil GDP growth instead is expected to be 1.8%, against 1.3% last year. Source: Reuters

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