The United Arab Emirates (UAE) economy could grow by five per cent in 2024, up from the 3.4 per cent achieved last year.

The Arab country’s Finance Minister Abdulla bin Touq Al Marri told the third annual Investopia conference that this forecast comes at a time when more than 70 per cent of the national economy is now oil-free.

“This achievement reflects the confidence of the private sector and investors around the world in the UAE’s investment climate,” a government official said.

The state has identified 16 flexible and sustainable economic sectors for its development, including health technology, agriculture, education, financial services, artificial intelligence and others. This is reported by
Prensa Latina, a partner of TV BRICS.

Emirati officials have repeatedly stated in various forums that the national economy is growing rapidly due to the implementation of innovative initiatives, policies and strategies.

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IStock