The United Arab Emirates expects its economy to grow 2.4% in 2019, driven by fas...
DUBAI - The United Arab Emirates expects its economy to grow 2.4% in 2019, driven by faster growth in the oil sector, the central bank said in a report on Sunday.
The bank expects the oil sector to grow 5% in 2019, compared with 2.8% in 2018, while the non-oil sector will grow 1.4%, slightly faster than 2018. “Improved outlook for growth is due to expected rising public and private spending at the Federal and Emirate Total government expenditure in the United Arab Emirates rose to 119 billion dirhams in the first quarter of this year, the report said.
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