The UAE economy will avoid recession and maintain its GDP at 5% in 2023

The Gulf Times reported on December 22 that experts predicted that the global market would face the real threat of economic recession in 2023, while the UAE economy would avoid the recession due to the rise of oil prices and the strong performance of non-oil industries such as real estate, tourism, hotels and logistics.

Analysts, economists and executives said that due to the global economic recession and geopolitical tensions, the UAE economy may slow down in 2023, but its gross domestic product (GDP) will remain at a stable level of about 5%.