Despite the global slowdown. Positive developments for the UAE economy in the years to come

The Dubai Chamber of Commerce and Industry predicted that the UAE economy will experience positive developments over the next few years, highlighting a number of factors that support these expectations, including diversified UAE economy and the strong macroeconomic fundamentals of the UAE. And the weakening of global demand for trade.
A report from the chamber, based on data from a number of prestigious international research institutions such as Haver Enlaitix, Fox Economics, the United Nations Conference on Trade and Development (UNCTAD) and the Increased government spending for infrastructure projects associated with the organization of Dubai Expo 2020 will also help accelerate the credit activity of the banking sector for non-oil sectors, which will strengthen the competitiveness of the business community and its ability to attract foreign direct investment. The UAE economy is expected to reach a long-term growth rate this year and in the coming years.The report points out that despite the significant decline in world oil prices since mid-2014, coinciding with the decline of the global demand for trade, and its fiscal budget through the relative reduction in government spending since 2015 by increasing subsidies and implementing value-added tax since January 2018 as a means of diversifying government revenue.
The report points out that despite the slowdown in the global economy in recent years, still keep key forces that have contributed to the steady growth of prices before oil. The data show the relative stability of the UAE's macroeconomic environment, as evidenced by the increase in global reserves since 2014 despite the decline in international oil prices. The relatively low level of external debt to GDP, which averaged 60% in 2016-2014, is expected to return to the previous average of 58% in 2018, which is low by international standards. The balance of payments and current account balance are improving significantly over the same period and are expected to improve further in 2018 and beyond.
Global FDI flows in 2017 fell 23 percent to 1.43 billion according to World Investment Report 2018 (UNCTAD). FDI inflows to the United Arab Emirates reached $ 10.4 billion in 2017, registering annual growth of 7.8% and the United Arab Emirates ranking 30th among FDI inflows. World's most popular in 2017. Based on the latest IMF report on the global economy, global GDP growth in 2017 reached 3.8% with a marked recovery in global trade. In 2018 and 2019, global GDP growth is expected to increase further to 3.9%.