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UAE Economy to Grow 3.9% in 2024, Central Bank Projects

A general view of Abu Dhabi, UAE. (WAM)
A general view of Abu Dhabi, UAE. (WAM)
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UAE Economy to Grow 3.9% in 2024, Central Bank Projects

A general view of Abu Dhabi, UAE. (WAM)
A general view of Abu Dhabi, UAE. (WAM)

The United Arab Emirates' economy grew 3.6% in 2023, the Gulf state's central bank said in its annual report on Thursday, and projected overall output growth to rebound to 3.9% in 2024 on the back of a recovery in various economic sectors.

The UAE economy grew 4.3% year-on-year in the fourth quarter, preliminary government data showed last month, with non-oil economic growth vastly outperforming overall GDP, Reuters reported.

But a decline in oil activity last year on lower production and prices weighed on full year growth.

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Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday
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Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday

The Madinah Investment Forum, organized by Al-Madinah Al-Munawwarah Chamber under the theme "Invest in Madinah", will start on Sunday and run for two days.
The forum consists of a diverse range of programs, events, and four specialized dialogue sessions focusing on key aspects of the national investment strategy. It will host 18 speakers and more than 40 entities, and present 200 investment opportunities, valued at over SAR57 billion, in more than ten targeted sectors, SPA reported.
The event will highlight Madinah's significant achievements and showcase development and investment projects in the region. It will explore promising investment sectors, comparative and competitive advantages, and the region's potential to support investment growth. Key areas of focus include hospitality, logistics, agriculture, and real estate.
The forum's objectives include identifying investment opportunities in Madinah, fostering investment partnerships, attracting new investments, and introducing financing solutions and business sector services for major development projects.
The event is aimed at a broad audience, including local and international investors, government agencies, development organizations, private sector representatives, investment agencies, financial institutions, consulting firms, and professional service providers.