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Dr. Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), stated that the UAE is projected to lead the Gulf Cooperation Council (GCC) in economic growth by 2025, driven primarily by its non-oil sector.
In an interview with Emirates News Agency WAM during a conference with the Dubai International Financial Centre (DIFC), Azour noted a predicted growth rate of 4% to 5% in the non-oil sector in 2025, emphasizing the effectiveness of the UAE’s economic policies.
He praised the UAE’s resilience to global economic challenges while positioning itself as a central hub between major economic blocs. Despite facing global obstacles, the UAE has swiftly adapted, utilizing modern technology to continue its growth trajectory.
Key factors for this optimistic outlook include investments in digital technology, renewable energy, and a commitment to climate sustainability. Azour also highlighted the effects of significant global events like Expo 2020 Dubai and COP28, which enhance the UAE’s attractiveness for investments.
Azour acknowledged the varying economic scenarios across the Middle East and the IMF’s dedication to supporting regional economies, indicating modest growth improvements expected in 2025.