UAE expects GDP growth of 6.5% this year

DUBAI - The UAE's GDP is expected to grow 6.5% this year, and more than 7% next year, the country's economy minister Abdullah bin Touq said on Thursday.

Bin Touq said on Tuesday that 2022 has been a great year for the country’s economy with trade crossing Dh1 trillion ($272 billion) and re-exports crossing Dh300 billion ($82 billion) for the first time ever.

“We expect GDP growth of 6.5 per cent this year...To double the economy to Dh3 trillion by 2031, we need to grow 7 percent every year,” he said.