{"id":107797,"date":"2025-09-24T00:00:00","date_gmt":"2025-09-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/icaew-maintains-uaes-economic-growth-forecast-revises-downwards-its-gcc-forecast\/"},"modified":"2025-09-24T00:00:00","modified_gmt":"2025-09-24T00:00:00","slug":"icaew-maintains-uaes-economic-growth-forecast-revises-downwards-its-gcc-forecast","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/09\/24\/icaew-maintains-uaes-economic-growth-forecast-revises-downwards-its-gcc-forecast\/","title":{"rendered":"ICAEW maintains UAE\u2019s economic growth forecast, revises downwards its GCC forecast"},"content":{"rendered":"

The ICAEW maintained the<\/strong> UAE\u2019s <\/strong>GDP growth forecast for the year at 5.1% <\/strong>in its latest Economic Insight quarterly report<\/a> prepared by Oxford Economics. Growth will be supported by a 4.7% expansion in the non-oil sector, contributing 77% of total output, according to the ICAEW<\/a>. This is down 0.1 percentage point from its earlier forecast<\/a>. Non-energy growth is projected to average 4.5% over the next few years. <\/p>\n

How their forecast compares: <\/strong>The Central Bank of the UAE (CBUAE) <\/span>upgraded<\/a> earlier this month its real GDP growth forecast to 4.9% in 2025, up from a 4.4% projection in June, boosted by oil rebound and steady non-oil momentum. The CBUAE\u2019s projection is broadly in line with <\/span>Standard Chartered\u2019s 5%<\/a> forecast for 2025, but above <\/span>Fitch Solutions\u2019 BMI (4.3%)<\/a> and <\/span>the IMF (4%)<\/a>. Further ahead, Standard Chartered expects growth to moderate to 4% in the following two years.<\/span><\/p>\n

Trade policy uncertainty has cooled down in recent months<\/strong>, with the UAE\u2019s non-oil exports jumping nearly 45% y-o-y during 1H 2025, reflecting \u201cthe UAE\u2019s rising prominence as a global trade hub\u201d and mirroring ongoing progress toward national diversification objectives, according to the report. <\/p>\n

Tourism will also help boost the UAE\u2019s resilience, macroeconomic stability, and<\/strong> budget flexibility <\/strong>amid oil price volatility and geopolitical tension, the report reads, with nearly 10 mn tourists visiting Dubai in 1H, marking a 6% y-o-y increase. <\/p>\n

The region at a glance: <\/strong>The ICAEW now expects the GCC\u2019s GDP growth this year to almost double to 4.1% in 2025, down from its previous forecast of 4.4% growth<\/a> on downward revisions for Saudi Arabia amid budgetary restrictions, before expanding further to 4.6% next year. <\/p>\n

The region\u2019s energy-sector is projected to grow by 4.9% in 2025<\/strong>, up from 4.6% in its earlier forecast, and 6% in 2026, on the back of increased oil production. Meanwhile, non-oil sectors are forecast to expand by 4% this year, backed by robust labor markets, credit growth, and ongoing diversification efforts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Trade policy uncertainty has cooled down in recent months, while increased oil production and non-oil momentum buoys the forecast<\/p>\n","protected":false},"author":1,"featured_media":107798,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1556],"tags":[19,20,266,1334],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-107797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-gdp","tag-oil-and-gas","tag-trade","wpautop","entry"],"acf":{"mongo_id":"d79067b6-cf39-4d03-9b0d-aea1c3b52e0a","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/8\/1681.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ICAEW maintains UAE\u2019s economic growth forecast, revises downwards its GCC forecast","related_issue":[107787],"teaser":"Trade policy uncertainty has cooled down in recent months, while increased oil production and non-oil momentum buoys the forecast","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.4644366c-5fc0-455c-9115-22a720394591.mp3"},"yoast_head":"\nICAEW maintains UAE\u2019s economic growth forecast, revises downwards its GCC forecast - 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