Bolliger said in a statement to the Emirates News Agency, WAM, on the sidelines of a media briefing held remotely that the optimistic expectations for the growth of the UAE’s economy are largely in line with the International Monetary Fund’s estimates issued a few days ago.
And it was International Monetary Fund He recently maintained his forecast for the growth of the UAE’s total gross domestic product by 4 percent in the year 2024, rising to 5.1 percent during the next year 2025.
Bolliger added that there are many global factors that contribute to determining expectations for the growth of the economies of the Gulf Cooperation Council countries, most notably oil production and OPEC decisions, in addition to other positive factors such as stimulus announcements in China, monetary policy measures, and reductions in the mandatory reserve ratio, all of which will be factors that will… To push markets and the global economy towards recovery.
He explained that these factors will undoubtedly contribute to directly and indirectly affecting the performance of the UAE economy, which we expect to continue the growth momentum and maintain its positive path.
Bolliger pointed out that the US Federal Reserve’s decisions related to monetary policies will also be factors affecting the global economy during the coming period, expecting a decline of about 150 basis points in interest rates until the end of 2025.