October 21, 2021

UAE economy to grow 2.1% this year, central bank says

An Emirati man wears a protective mask as he walks past buildings in Abu Dhabi, United Arab Emirates September 1, 2020. REUTERS/Nir Elias/Pool/File Photo

DUBAI, Sept 22 (Reuters) – The United Arab Emirates’ economy will grow 2.1% this year and 4.2% in 2022, the central bank said on Wednesday, as the Gulf state rebounds from the coronavirus downturn.

“Economic activity in the UAE continued its recovery in the second quarter, with growth reaching almost pre-COVID-19 levels,” the central bank said in its quarterly economic review.

Separately, Dubai – one of the UAE’s emirates – said on Wednesday it expects economic growth of 3.1% this year and 3.4% next year.

Reporting by Shakeel Ahmad and Davide Barbuscia; Editing by Kevin Liffey

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