CAIRO: United Arab Emirates’ (UAE) non-oil gross domestic product (GDP) is expected to grow by 3.6% in 2021, state news agency WAM reported on Saturday citing central bank estimates, suggesting the economy will rebound from an expected contraction in 2020.
The Central Bank of UAE, in its second-quarter report on the economy, had recently said the non-oil economy was projected to contract 4.5% for 2020 as a whole due to the COVID-19 pandemic.
The state news agency said 388 billion dirham ($105.6 billion) worth of total economic support packages and initiatives have been announced since the start of the pandemic.
($1 = 3.6728 UAE dirham)
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