Abu Dhabi’s economy expected to grow 5% in 2021

Abu Dhabi’s economy expected to grow 5% in 2021

Abu Dhabi's economic growth rate is forecast to decline by 3.5%













15 October 2020 11:15 AM





























UAE - Mubasher: Abu Dhabi's economy is expected to grow by 5% in 2021, as the emirate is focusing on diversifying its economic activities, according to the Undersecretary of Abu Dhabi Department of Economic Development (ADDED), Rashed Al Balooshi.





This announcement was made during a session on the prospects of economic growth with the participation of the Abu Dhabi Investment Office (ADIO) and Abu Dhabi Global Market (ADGM).





Al Balooshi remarked that Abu Dhabi's economic growth rate is forecast to decline by 3.5% in 2020 due to the coronavirus (COVID-19) repercussions. 





The undersecretary of ADDED added that Abu Dhabi is giving priority to technology, innovation, development of knowledge base, and private sector to achieve a high economic growth rate.