UAE economy to dodge recession in 2023
- Date: 22-Dec-2022
- Source: Al Bawaba
- Sector:Financial Services
- Country:UAE
UAE economy to dodge recession in 2023
As the global markets are facing a real threat of economic slump next year, the UAE economy will dodge recession due to higher oil prices and strong performance of non-oil sectors such as real estate, tourism, hospitality and logistics, experts say.
Analysts, economists, and executives said the U.A.E. economy may experience an economic slowdown in 2023 because of global recession and geopolitical tension but it will remain on track to post a steady gross domestic product (GDP) of around 5 percent compared to 7.6 percent projected by the central bank for 2022.
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