AED 1.673 trillion nominal GDP of the United Arab Emirates in 2019 <Al Watan Newspaper



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The International Monetary Fund (IMF) predicts that the nominal GDP of the UAE in the year 2019 will increase to AED 1.673 trillion, an increase of 4.7% compared to AED 1.589 trillion in 2018. This indicates that the national economy will continue to achieve good growth rates supported by the diversification policy adopted by the country in recent years. To strengthen your resources.
The specialized reading by international financial institutions reflects the continued growth of the United Arab Emirates economy following the 2015-2016 recession, supported by the improvement of many indicators, including increased investment and credit to the private sector, better prospects of trade with trading partners and the expected increase in tourism activity as a result of Expo 2020.
Support also comes from steady improvement in oil prices as the average price of the barrel is expected to rise to US $ 72.3 by 2019, compared with US $ 71.9 by 2018, according to IMF statistics.
According to forecasts by the International Monetary Fund, the country's crude oil output will increase to 3.1 million barrels per day this year, compared to 3 million bpd in 2018.
These positive readings of the performance of the UAE economy are also based on the fiscal stimulus package launched by the federal government earlier this year and will continue over the next three years amid 1.9% inflation in 2019 despite the introduction of VAT at the beginning last year.
In terms of investment and savings, the expectations of the international financial institutions indicate an increase in total domestic investment, as well as gross fixed capital formation in the public and private sectors and total national savings, taking into account that the current account surplus UAE is expected to increase by 8%. An increase of 6.9% in 2018

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