UAE economy expected to grow by 5% in 2024: Minister

Abdullah bin Touq Al Marri, Minister of Economy, has predicted that the UAE economy will grow by up to 5% in 2024.

Speaking to the Emirates News Agency (WAM), the minister pointed out that more than 73% of the national economy is now non-oil, a historic first for the country. "This achievement reflects the confidence of the private sector and investors around the world in the UAE's investment environment."

He made the statements on the occasion of the third annual conference of Investopia, the global investment platform launched by the UAE government in September 2021, which will take place on 28th and 29th February, in Abu Dhabi, under the theme ‘Emerging Economic Frontiers: Investing in the New Economy Growth Sectors’.

“The private sector is a key pillar in the new economic and investment landscape,” he said. "It is at the heart of global changes and challenges. And in implementation of the directives of the wise leadership, the UAE has identified the most sustainable and flexible economic sectors, which have reached more than 16 sectors, including health technology, agriculture, education, financial services, artificial intelligence, and other sectors that contribute to the sustainability of economic sectors and enhance the strength of the national economy."