UAE growing as a huge economic leader?

The economy of the country is said to gain a boom by the end of 2019 and the coming year. Driven by robust government spending for Expo 2020 Dubai-related infrastructure projects coupled with some deregulation in the private sector that supports foreign investment activity, the UAE economy is projected to accelerate this year. Consumer prices in the UAE, on an annual basis, fell 1.5 per cent in June. This was a stronger drop than May’s 1.1 per cent fall. “A weak real estate market and a base effect should limit upward price pressures going forward.” The country’s economic growth was strong in the second quarter, as oil production expanded robustly in year-on-year terms despite the ongoing Opec output cuts which fared in favour of the country’s energy sector. Cedric Lizin, head of UBS Wealth Management Dubai, said a recent survey showed clearly that investors in the UAE are among the world’s most optimistic when it comes to their local economy.

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