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Economic growth to pick up in UAE: World Bank

Dubai: The World Bank has said that the overall economic growth of the UAE will be strong. According to a World Bank report, the UAE is expected to grow 4.6% this year. It was 2.6% last year. Economic growth has been driven by higher oil prices and growth in the non-oil sector.

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The central bank has projected a growth rate of 4.2%. The central bank estimates that the oil sector will grow by 5% and the non-oil sector by 3.9%. The IMF predicts that the UAE will grow by more than three percent this year.

The UAE has made great strides in the areas of tourism, real estate, hospitality and aviation.

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