A boost in economic growth for the UAE throughout 2015 and during 2016 is expected according to the AMF’s September Report; “Arab Economic Outlook Report”. The report contains updated forecasts of economic growth and inflation rates for Arab countries in 2015 and 2016, with economies expected to grow by 2.8 percent and 3.5 percent respectively.
Whilst the first half of the year hasn’t witnessed as much accelerated growth as predicted, growth is set to come in the latter part of this year and throughout 2016. The modest economic performance thus far is mainly attributed to several factors, the most important of which are the less than expected performance of the US economy and Euro zone recovery.
International organisations expect world economic growth to increase to 3.8 per cent in 2016 due to improved economic prospects in both developed and developing economies. International trade is expected to grow by 4.1 percent and 4.6 percent in 2015 and 2016 respectively.