UAE aims to grow its economy by 7% to reach GDP of over $800 billion by 2030

Posted on July 21, 2023   |  

The United Arab Emirates is seeking to grow the economy by 7% to double its GDP to over $800 billion by 2030.

In 2022, the country's economy grew by 8% due to high crude prices and production. 

In 2023, the (IMF) International Monetary Fund predicted GDP to accelerate at a slower rate of 3.5%.

The UAE is aiming for bilateral trade deals and partnerships to reach this goal.

This week, UAE committed to increasing financial aid for Turkey with deals that could be worth over $50 billion and buying $8.5 billion of bonds.