22.9 C
Sunday, December 10, 2023

UAE GDP to grow by 7.9% in 2022


dubai [UAE]25th June (ANI/WAM): UAE Minister of Economy, Abdullah bin Touk Al Mari, said the preliminary estimate of the UAE’s Gross Domestic Product (GDP) for 2022 released by the Federal Center for Competition and Statistics reaffirmed the The soundness of the UAE economy. The economic performance of the country and the positive growth rate it achieved exceeded expectations. In 2022, the UAE’s GDP will total AED 1.62 trillion at constant prices, achieving a positive growth of 7.9%, while at current prices it will total AED 1.86 trillion, an increase of more than AED 337 billion over 2021, achieving a 22.1% increase growth points.

Al Mari said: “The UAE government is working hard thanks to the forward-looking vision of the wise leadership under President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the leadership of Sheikh Mohamed bin Zayed Al Nahyan. Instructions from His Highness Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to adopt a stimulating economic strategy and a forward-looking economy by adopting a flexible economic policy that relies on speed and accuracy to respond to global changes plan, establish an innovative economic model serving its future vision based on economic diversification, and improve economic procedures and legislation.” One of the integral parts of economic relations. The success and integration of these policies also raise the requirement of sustainable development, achieving an economy that brings prosperity and a decent life for all citizens and residents of the country, and for the UAE’s leadership at the regional and international levels status and competitiveness.”

FCSC Director Hanan Ahli said the results and data achieved underscore the continued growth of the UAE economy, both at the aggregate level and at the level of key economic sectors and activities, which has contributed to strengthening the economy by increasing the share of non-oil activities in the national economy. relative importance to implementing a diversification policy. “Despite an increasing population every year, the UAE’s GDP per capita has grown at an unprecedented rate of 24.7% over the past six years, and GDP per capita in 2022 will increase by 21.1% compared to 2021, again demonstrating the The UAE’s successful government has pursued economic policies to achieve prosperity and improve the quality of life in UAE society,” she added.

Innovative economic initiatives related to non-oil sectors and activities have positively contributed to increasing the growth of the UAE’s Gross Domestic Product (GDP) in 2022, reaching AED 1.632 trillion at constant prices, with non-oil GDP GDP reached AED 1.174 trillion, achieving positive growth. Growth in all important sectors.

(This story was not edited by Devdiscourse staff and was automatically generated from a syndicated feed.)


Source link

Related Articles

Syed Salahuddin Presents Indian Republic Day Kavi sammelan and Mushairah 2024 – A Grand Extravaganza of Poetic Brilliance: Marking Indian Republic Day on Foreign...

In a splendid celebration of the rich tapestry of Urdu and Hindi poetry and literature, Mr. Syed Salahuddin is gearing up to host the...

Tahbib: Navigating a Global Literary Odyssey with Leading Edge Events

In the luminous realm where art, language, and culture converge, Mr. Tariq Faizi's Leading Edge organization orchestrated a three-day symposium presided over by the...

Prize Alert: Key Highlights for Dubai Shopping Festival – Don’t Miss the Dh1 Million Prize and Free Home Makeover!

Prize The Dubai Lights show promises a visual treat with enchanting displays at various venues, featuring larger-than-life characters, neon-lit abras, and life-size Amazon forest...

“Sanjay Shah’s Journey: From Opulent Living to Extradition from the UAE”-1

Sanjay Shah Once the poster boy for opulence in Dubai, Sanjay Shah's extravagant lifestyle was a symbol of luxury. His mansion, fleet of yachts,...

“Dubai’s Spectacular 3D Tale: 500 Drones Transfigure Into Iconic Landmarks for an Astonishing Display”

500 Drones In the heart of Dubai's Bluewaters Island, a purpose-built platform gears up for the Dubai Shopping Festival (DSF) Drones Show. Exclusive access...

Latest Articles