World Bank expects UAE economy to continue to grow despite global headwinds

The Regional Director of the Gulf Cooperation Council at the World Bank, Issam Abu Suleiman, has confirmed WB’s forecast for the UAE economy to grow by 4.1%, indicating that the expected growth rate is good enough in view of the current difficult global economic conditions.
“The UAE economy has secured good performance in the past year, and we expect it to continue with the same performance in 2023,” Abu Suleiman told the Emirates News Agency (WAM), on the sidelines of the Abu Dhabi Economic Summit.

Abu Suleiman credited the UAE economy’s anticipated growth to a number of factors, the most important of which are government efforts to diversify the economy, a business-conducive ecosystem, ease of doing business, and sophisticated infrastructure.

He emphasised on the significance of the Abu Dhabi Economic Summit, saying it “brings together several policymakers and prominent specialists in the fields of business, finance, and technology from around the world, in an effort to open new horizons for growth and development.”