In its report issued Thursday, the Organisation of the Petroleum Exporting Countries indicated the developments of its economic forecasts for the month of August, to a group of factors that supported economic activities.
In the UAE, including the economic recovery from the repercussions of the “Covid-19” pandemic, the oil prices recorded during the last period, in addition to hosting the activities of the Expo 2020 Dubai.
The report pointed out that the Standard & Poor’s Global Purchasing Managers Index in the UAE rose from 54.8 during last June, it reached 55.4 in July.
The report indicated that despite the challenges the world is witnessing, they did not affect the levels of growth recorded by the UAE economy, supported by the high levels of confidence in non-oil economic activities.
OPEC had expected, during its reports in the past months, that the UAE economy would continue to grow and recover, supported by the current government policies and measures that supported indicators of economic recovery after the “Covid-19” pandemic.
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