Abu Dhabi economy on the path to recovery: official
June 12, 2024
By Expat Media
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DED undersecretary expects municipality's economy to continue recovering until next year
ABU DHABI – A senior economic official said the Abu Dhabi economy is showing signs of recovery this year as the emirate is spending anew on infrastructure projects.
Khalifa bin Salem Al Mansouri, undersecretary at the Department of Economic Development (DED), pointed out that the municipality has a Dh7-billion spending plan and will implement tourism projects on Yas and Saadiyat islands.
"We are in the downturn of the economic cycle but we see some signs of recovery. The government is now spending. Those are signs of early recovery. We expect to see more signs of recovery this year and at the beginning of next year," Al Mansouri said at the sidelines of the DED conference.
The conference was aimed as promoting Abu Dhabi as an investment hub.
Al Mansouri said Dh95 billion worth of investments were poured into the emirate last year, an increase of eight percent over 2015 figures.
He also said most of the investments were in the property sector but the municipality is also promoting investments in the finance and hospitality industries. JTNDc2NyaXB0JTIwc3JjJTNEJTIyJTJGJTJGcGFnZWFkMi5nb29nbGVzeW5kaWNhdGlvbi5jb20lMkZwYWdlYWQlMkZqcyUyRmFkc2J5Z29vZ2xlLmpzJTIyJTIwYXN5bmMlM0QlMjIlMjIlM0UlM0MlMkZzY3JpcHQlM0UlMEElMjAlM0MlMjEtLSUyMGluLWFydGljbGUlMjBhZCUyMC0tJTNFJTBBJTIwJTNDaW5zJTIwY2xhc3MlM0QlMjJhZHNieWdvb2dsZSUyMiUyMHN0eWxlJTNEJTIyZGlzcGxheSUzQSUyMGJsb2NrJTNCJTIyJTIwZGF0YS1hZC1jbGllbnQlM0QlMjJjYS1wdWItNTAwNjI0MTU4MzU4MTg0OSUyMiUyMGRhdGEtYWQtc2xvdCUzRCUyMjg1MjYwOTM2MTElMjIlMjBkYXRhLWFkLWZvcm1hdCUzRCUyMmF1dG8lMjIlM0UlM0MlMkZpbnMlM0UlMEElM0NzY3JpcHQlM0UlMkYlMkYlMjAlM0MlMjElNUJDREFUQSU1QiUwQSUyOGFkc2J5Z29vZ2xlJTIwJTNEJTIwd2luZG93LmFkc2J5Z29vZ2xlJTIwJTdDJTdDJTIwJTVCJTVEJTI5LnB1c2glMjglN0IlN0QlMjklM0IlMEElMkYlMkYlMjAlNUQlNUQlM0UlM0MlMkZzY3JpcHQlM0UlMEE=
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