The World Bank’s latest Global Economic Prospects report forecasts a 3.9 percent increase in the UAE’s real GDP for 2024, followed by a further expansion to 4.1 percent in 2025.
In April 2024, the World Bank revised its earlier prediction for the UAE’s real GDP growth in 2024 to 3.9 percent, up from the January estimate of 3.7 percent. The report anticipates growth in the Middle East and North Africa to accelerate to 2.8 percent in 2024 and 4.2 percent in 2025.
Projections indicate that growth in the Gulf Cooperation Council (GCC) nations will strengthen to 2.8 percent in 2024 and rise to 4.7 percent by 2025.
The economies of oil-exporting countries are expected to experience growth rates of 2.9 percent in 2024 and 4.2 percent in 2025, while oil-importing nations are forecasted to achieve growth rates of 2.9 percent and 4 percent in 2024 and 2025, respectively.
