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UAE’s economy may grow to 4.4 percent in 2018, from 1.5 percent in 2016, economists at the International Monetary Fund (IMF) agreed.
The economic growth in the country is foreseen as the price of oil, a common commodity in the UAE, shows signs of recovery.
This comes after the oil industry suffered from shedding more than 70 percent of its value which began in 2014.
Abu Dhabi, UAE’s biggest producer of oil, is also likely to see economic rebound.
“We are in the downturn of the economic cycle but we see some signs of recovery,” The National quoted Khalifa bin Salem Al Mansouri, Undersecretary at the Department of Economic Development, as saying.
“The government is now spending. Those are signs of early recovery. We expect to see more signs of recovery this year and at the beginning of next year,” Al Mansouri said.
UAE is also adjusting well to the low price of oil as non-oil economic growth also progresses this year, according to a report from The National.
According to the IMF, the country’s non-oil economy is seen to expand by 3.3 percent this year, with its budget deficit decreasing to 4.5 percent of the gross domestic product.
A survey from export credit consultancy Coface also showed that private companies outside the oil industry will enjoy increase in profit in the next six months.
Photo credit: Stocksnap
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We listed over 1,000,000 jobs from United Arab Emirates monthly.
[/et_pb_text][et_pb_search admin_label=”Search” background_layout=”light” text_orientation=”right” exclude_pages=”off” exclude_posts=”off” include_categories=”2,3,9,10,11,4254,12,1,13,4259″ hide_button=”on” placeholder=”ei. Nurses, Engineer, Accountant, Sales…” field_bg=”#ffffff” placeholder_color=”#7c7c7c” module_class=”jobs-search” input_font_size=”14px” input_letter_spacing=”0px” input_line_height=”1em” button_font_size=”14px” button_letter_spacing=”0px” button_line_height=”1em” custom_css_input_field=”height: 50px !important;||max-width: 436px;||text-align: left !important;||float: left;||margin-left: 20px;” disabled=”off” /][/et_pb_column][et_pb_column type=”1_3″][et_pb_image admin_label=”Image” src=”https://filipinotimes.net/wp-content/uploads/2017/04/tft-rent.png” show_in_lightbox=”off” url_new_window=”off” use_overlay=”off” animation=”off” sticky=”on” align=”left” max_width=”164px” force_fullwidth=”off” always_center_on_mobile=”on” use_border_color=”off” border_color=”#ffffff” border_width=”1px” border_style=”solid” custom_css_main_element=”float: left;||position: relative;||top: 37px;||left: 20px;” disabled=”off” /][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” max_width=”280px” max_width_last_edited=”off|desktop” header_font_size=”28px” text_font_size=”20px” use_border_color=”off” border_style=”solid” custom_padding=”0px|||” custom_css_main_element=”margin-top: 123px;||font-family: Georgia;||margin-left: 20px;” disabled=”off”] Accomodation option available in the market. [/et_pb_text][et_pb_search admin_label=”Search” background_layout=”light” text_orientation=”right” exclude_pages=”off” exclude_posts=”off” include_categories=”2,3,9,10,11,4254,12,1,13,4259″ hide_button=”on” placeholder=”ei. 1 Bedroom Al Rigga, Flat, Bedspace…” field_bg=”#ffffff” placeholder_color=”#7c7c7c” module_class=”jobs-search” input_font_size=”14px” input_letter_spacing=”0px” input_line_height=”1em” button_font_size=”14px” button_letter_spacing=”0px” button_line_height=”1em” custom_css_input_field=”height: 50px !important;||max-width: 436px;||text-align: left !important;||float: left;||margin-left: 20px;||position: relative;||top:-30px;” disabled=”off” /][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built=”1″ admin_label=”Section” transparent_background=”off” background_color=”#1a1c1d” allow_player_pause=”off” inner_shadow=”off” parallax=”off” parallax_method=”off” custom_padding=”0px||0px|” make_fullwidth=”off” use_custom_width=”off” width_unit=”on” make_equal=”off” use_custom_gutter=”off” fullwidth=”off” specialty=”off” disabled=”on” disabled_on=”on|on|on”][et_pb_row admin_label=”Row” make_fullwidth=”off” use_custom_width=”on” width_unit=”on” custom_width_px=”1200px” custom_width_percent=”80%” use_custom_gutter=”off” gutter_width=”3″ custom_padding=”50px||50px|” allow_player_pause=”off” parallax=”off” parallax_method=”off” make_equal=”off” parallax_1=”off” parallax_method_1=”off” parallax_2=”off” parallax_method_2=”off” parallax_3=”off” parallax_method_3=”on” parallax_4=”off” parallax_method_4=”on” disabled=”off”][et_pb_column type=”1_2″][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” module_class=”slim-optin-text” use_border_color=”off” border_style=”solid” disabled=”off” border_color=”#ffffff” custom_css_main_element=”line-height: 1 !important;”][su_column size=”1/4″ class=”sub-optin”]Latest News[/su_column][su_column size=”3/4″ class=”sub-optin-2″]Subscribe to our free weekly newsletter and never miss a thing. No spam. Only hand-picked trending news.[/su_column]
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THE FILIPINO TIMES provides the information that the large Filipino community in the region wants and needs.
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