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Dubai economy forecast to grow by 4% in 2021

Dubai economy forecast to grow by 4% in 2021
The UAE banking system remained active in financing and extending credit in first half of 2020.
Economic growth in Dubai in H1 2020 declined by 10.8% and is expected to end the year with a 6.2% contraction.
Dubai is expected to grow by four per cent next year following a quick economic recovery due to effective policy measures introduced by the government to contain the Covid-19 pandemic, says a report.
Economic growth in Dubai declined by 10.8 per cent during the first half of 2020 and is expected to end the year with a 6.2 per cent contraction due to the government’s swift response to the pandemic and its strong economic fundamentals that have paved the way for rapid recovery, according to a handout issued by Dubai Media Office on Wednesday.

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