Government officials predict that Abu Dhabi’s economy will expand by 8% by 2022.
Abu Dhabi holds 6% of the world’s proven oil reserves and with oil prices dropping due to the global pandemic there has been a dip in gross domestic product of about 3% this year. Despite this the Abu Dhabi government has continued its capital investment plan and continued to support the economy with several stimulus packages.
Overall growth in 2021 and 2022 is expected to be driven by the oil sector, financial services, government spending and foreign investors.
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