UAE economy shows positive growth
The UAE’s economy is showing positive signs of growth.
That’s according to preliminary estimates by the Federal Competitiveness and Statistics Authority, which said the country’s real GDP grew by 0.8 per cent last year.
They say non-oil GDP grew by 2.5 per cent in 2017 and that there’s a very positive outlook for this year as well.
The country’s Minister of Economy says the UAE’s GDP is heading in the right direction because of successful efforts to diversify the economy.
Sultan Bin Saeed Al Mansouri added that the increasing reliance on non-oil sectors has contributed to the growth.
In a statement, he said the growth in oil resources and rise in international oil prices has contributed to the positive outlook.