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According to ICAEW’s 2018 Middle East Q1 Economic Insight, the UAE’s economy is set to recover from a difficult year in 2017.
Growth was primarily driven by recovering oil prices and a pickup in investment ahead of Expo, but the non-oil sector also proved to be resilient despite an unfavourable macroeconomic environment and regional economic slowdown.
Although it all seems positive, the accountancy and finance body warns general prices are expected to increase as inflation rises to 4% this year. That being said, it seems the nation is on the right track to the much sought-after economic diversification.