ABU DHABI (WAM)
Michael Bolliger, Chief Investment Officer of Emerging Markets at UBS Global Wealth Management, stated that the UAE's GDP growth is expected to surpass 5 percent in 2025.
Bolliger told the Emirates News Agency (WAM), during an online press briefing, that the optimistic growth outlook for the UAE economy aligns closely with recent estimates from the International Monetary Fund (IMF).
The IMF recently maintained its forecast for the UAE's GDP growth at 4 percent in 2024, with an increase to 5.1 percent projected for 2025.
Bolliger highlighted that several global factors play a role in shaping growth expectations for the economies of the Gulf Cooperation Council (GCC) countries, foremost among them oil production and OPEC decisions.
Additional positive factors include stimulus announcements in China, monetary policy measures, and reductions in the reserve requirement rate, all of which are anticipated to drive markets and the global economy toward recovery.
He clarified that these factors will undoubtedly influence the UAE's economic performance both directly and indirectly, with expectations that the UAE economy will continue its growth momentum and maintain an upward trajectory.
Bolliger also noted that policy decisions by the United States Federal Reserve concerning monetary policy will be an influential factor on the global economy in the coming period, forecasting a decrease of approximately 150 basis points in interest rates by the end of 2025.