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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

UAE Hopeful of 5%-6% Economic Growth in 2022 and Beyond

General view of the Burj Khalifa skyline in Dubai, United Arab Emirates, December 8, 2021. (Reuters)

The United Arab Emirates (UAE) is hoping the economy will grow by 5% to 6% this year as it recovers from the pandemic, and by the same pace over the next few years to help double the economy by 2031, its economy minister said on Wednesday.

"The whole world is recovering and I think we are in a recovery phase after the pandemic, (but) predicting growth as well this year is a challenge," Abdulla Bin Touq Al Marri told Reuters on the sidelines of the "Investopia" conference in Dubai, referring to the Russia-Ukraine war and oil prices.

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