UAE maintains positive GDP outlook despite Covid-19 setback
UAE maintains positive GDP outlook despite Covid-19 setback
The rapid rollout of the Covid-19 vaccine in the UAE could support a more rapid recovery in domestic tourism and provide a vital boost to the hospitality and retail sectors, Moody's Investor Service said as it forecast a stable outlook for the economy.
The global rating agency gave the Arab world's second-largest economy Aa2 stable outlook and predicted the country's nominal GDP would bounce back to pre-pandemic levels over the next three years.
At $63,590 in purchasing power parity terms, the UAE's 2019 GDP per capita ranks as one of the highest in the world, said the rating agency.
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