Al Khoori noted that the UAE’s non-oil foreign industry reached a record AED 1. 239 trillion in the first part of 2023.
ABU DHABI: Younis Haji Al Khoori, Undersecretary of the Ministry of Finance (MoF), said the UAE economy is expected to grow by 5. 7% in 2024 despite existing global economic challenges, adding the global economic slowdown and difficult monetary conditions.
Speaking to the Emirates News Agency (WAM), he said: “Our efforts to diversify the economy and promote sustainable expansion have proved effective. The country expects non-oil GDP expansion to reach 5. 9% in 2023 and increase to 4. 7% in 2024.
Al Khoori noted that the UAE’s non-oil foreign industry reached a record AED 1. 239 trillion in the first part of 2023, an increase of 14. 4% over the same period in 2022. In addition, foreign direct investment (FDI) flowing into the country reached around AED 83. 5 billion in 2022.
Al Khouri also noted that the UAE’s Purchasing Managers’ Index (PMI) rose to 57. 7 in October 2023, reaching its point since June 2019. “This post-COVID-19 surge indicates the speed of recovery and the full recovery of the economy. in the country. “
He added that the UAE’s cutting-edge methods reflect a commitment to working in accordance with the vision of the UAE’s sensible leaders and the “Principles of 50” that have made economic progress a great national interest.
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