The IMF has forecasted new growth rates for UAE and other GCC countries.
Back in 2020, it was previously estimated a big contractions in GDP for the Middle East countries although less compared to main EU countries.
The decline of GDP at the beginning 2020 for Saudi Arabia and UAE was initially forecasted by -5.9% and -4.1% while in the latest World Economic Outlook it is reported a 1.3% and 2.% growth in GDP.
Positive, yet uncertain
However, the future is still uncertain and the economic recovery may take longer than expected given the fact the pandemic is still ongoing with moderate results in terms of decline of new cases.
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