UAE's economic outlook remains optimistic as GDP is expected to grow by 3.6% in 2023

Posted on July 3, 2023   |  

In 2023, UAE's GDP is expected to grow by 3.6%, showing promising signs for the economic outlook, supported by strong domestic activity.

Non-hydrocarbon GDP will grow by 3.8% due to continuous tourism activity and high capital expenditure.

However, the outlook faces weak growth, hard financial conditions, and geopolitical consequences.

In 2023, inflation will ease to 3.4%, and fiscal and external surpluses are expected to increase due to higher oil prices.