UAE News Today : Politics

The United Arab Emirates is the second most economically stable country in the world

The country aims to reach Dh3 trillion by 2030 through new economic diversification strategies.

The United Arab Emirates has been rated as the second most stable country in the world economically thanks to business opportunities, easy access to capital, availability of skilled labor, agility to adapt, competitiveness and strong trade, among others. , according to a new study.

According to the US World News and ReportsThe United Arab Emirates also boasts a gross domestic product per capita on par with major Western European nations, as well as the most competitive economy in the Arab world.

The United Arab Emirates has a total GDP of $508 billion (Dh1.86 trillion) and a per capita income of $87,729. The second largest economy in the Gulf Cooperation Council (GCC) region aims to reach Dh3 trillion by 2030 through new economic diversification strategies, as well as supporting new economic sectors, including the adoption of the Fourth Industrial Revolution and the use of advanced technologies to increase research capabilities. , secure future industries and encourage foreign direct investments.

Official figures showed that the Emirates’ GDP in 2022 at constant prices amounted to Dh1.62 trillion, achieving a growth of 7.9 percent. The economy reached 1.86 trillion dirhams at current prices in 2022, an increase of more than 337 billion dirhams compared to 2021, achieving growth of 22.1 percent.

The UAE also has some of the world’s largest sovereign wealth funds, such as Abu Dhabi Investment Authority, Mubadala, Investment Corporation of Dubai, Dubai World, ADQ and others, which hold assets worth trillions of dirhams to protect against volatility economy around the world.

According to the US World News and ReportsSwitzerland is the most economically stable country, followed by the United Arab Emirates, Canada, Germany, Japan, Sweden, Australia, the Netherlands, Norway and Denmark.

News Source: Khaleej Times

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