Dubai’s economy is approximated to raise 4.5% in 2015 which will be higher than the global increase forecast of 3.5%, report revealed.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Economic Development Committee in Dubai, President of Dubai of Department of Civil Aviation and Chairman and Chief Executive of Emirates Group, stated that the increase of the emirate’s economy will be urged by both government and private entities.
Dubai’s high quality infrastructure will preserve the emirate’s competitiveness, Sheikh Ahmed uttered, adding that the emirate is “fully alert for any challenges from global economy or other external factors.”
He also disclosed that the Dubai government will prevent a budget deficit.
Sheikh Ahmed also anticipates that the UAE’s economy would increase 4.5% in 2015, which is very good considering the unpredictability in the worldwide markets.
Sheikh Ahmed’s observations were restated by the Chief Economist at Dubai’s Department of Economic Development (DED), Dr. Mohammed Lahouel.
Dubai’s economy will strengthen higher than international rate but similar to rising markets forecasts. The development drivers will be realty property, trade, manufacturing and services.