Abdullah bin Touq Al Marri, the UAE's Minister of Economy, has forecast a 5 to 6% growth for the national economy in 2025.
Speaking to the Emirates News Agency (WAM) on the sidelines of the World Governments Summit in Dubai, Al Marri said that the growth will be driven by strong performance in key sectors such as technology, renewable energy, trade, financial services and infrastructure.
He revealed that the UAE’s GDP grew by an average of 4.8% between 2021 and 2024, with non-oil GDP growth averaging 6.2%.
Al Marrri also noted that non-oil sectors now contribute 75% of the country’s GDP, aligning with the "We the UAE 2031" vision.
The minister emphasised that the nation’s continued growth showcases its ability to maintain high and sustainable expansion, surpassing even some advanced economies.
He also outlined the UAE’s strategic focus on the circular economy, space economy, and emerging sectors, as well as efforts to build new economic alliances and attract foreign investments.
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India's financial markets rallied sharply on Tuesday after a trade deal that slashed US tariffs on Indian goods to 18 per cent from 50 per cent, a development that investors said lifts a key overhang over the country's stocks, bonds and currency.
The UAE and the Democratic Republic of Congo have formalised economic ties through signing a Comprehensive Economic Partnership Agreement (CEPA) on Monday that aims to reduce tariffs and eliminate trade barriers.