The UAE Central Bank expected the UAE’s gross domestic product to grow by 4.2% during 2022, compared to 2.1% for the previous year.
The Central Bank expected the non-oil GDP to grow by 3.9% this year, amid the continued increase in public spending, positive expectations for credit growth, increased job opportunities, and the lifting of travel restrictions.
In a related context, the Central Bank maintained its forecast of 5% of oil GDP growth in 2022 with improved demand in light of the distribution of Corona vaccines to various economies of the world.