The UAE is set to drive economic growth in the GCC region by 2025, driven largely by its non-oil sector, according to Dr. Jihad Azour, Director of the IMF’s Middle East and Central Asia Department. Speaking at a conference hosted by Dubai International Financial Centre in collaboration with the IMF, Dr. Azour projected UAE non-oil sector growth between 4% and 5% in 2025, attributing this success to the UAE’s strategic adaptability and proactive policies.
In recent years, the UAE has heavily invested in technology, digital transformation, and renewable energy, positioning itself as a critical global economic hub. Notable events like Expo 2020 Dubai and the COP28 conference have bolstered the UAE’s appeal for global investments. “Despite global challenges, the UAE economy has demonstrated swift adaptability and leveraged modern technology to excel,” Dr. Azour remarked.
Additionally, Dr. Azour emphasized the IMF’s ongoing support for Middle Eastern and North African economies, highlighting over $13 billion in recent funding for the region. A projected growth increase for the Middle East overall, from 2.1% this year to 4% in 2025, was also noted, with Dr. Azour stressing the priority of regional economic stability.
