UAE poised to become best performing economy in 2017-2018 and eeconomists see UAE's GDP to be at 2.6% next year

  DUBAI - Economists have painted a rosy economic picture for the UAE as they expect the country to be the best performing economy in the Middle East and North Africa (MENA) region in 2017 to 2018. The optimistic projection for the UAE comes amid weak economic growth of 1.5 percent forecast for the region next year. Capital Economics said in its latest outlook that while the MENA economies will have subdued growth, the UAE will be an exception. According to BMI, a London-based Fitch group company, all six Gulf Cooperation Council member-states will experience a sharp slowdown this year and over 2017 but the UAE and Qatar will outperform the others, notably Saudi Arabia. The GCC is composed of the UAE, Qatar, Bahrain, Kuwait, Sultanate of Oman and the Kingdom of Saudi Arabia. The BMI said in a report that the UAE will have notable pick-up in growth in 2017 - 2.8 percent from 2.2 percent in 2016 - "because the emirates is more diversified from oil than its GCC peers." FocusEconomics, for its part, expect the gross domestic product or GDP of the UAE to be at 2.4 percent for this year and rise to 2.6 percent next year. Sultan bin Saeed Al Mansouri, who is UAE minister of economy, had said that the UAE's GDP had tripled in the past 10 years, climbing from almost Dh511 billion in 2006 to Dh1.58 trillion in 2015. The figure is expected to reach Dh1.8 trillion by the end of 2016 and triple in 10 years. GAC/Expat 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