The United Arab Emirates’ central bank said on Monday that real gross domestic product (GDP) growth jumped to 3.8 percent in 2021 and was expected to reach 5.4 percent in 2022, while non-oil GDP growth rose to 5.3 percent in 2021, Reuters reported.
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The United Arab Emirates will continue to implement a 50-year plan to innovate and diversify the economy under its new President Sheikh Mohamed bin Zayed Al Nahyan, the official WAM news agency reported in May.
The UAE Centennial Plan 2071 is a long-term plan that extends over five decades, after being launched last year, and aims to form a clear roadmap for the government to follow to fortify the country’s reputation and its soft power.
Aiming to invest in the future generations, the plan intends to prepare them with the skills and knowledge needed to succeed, fortify the UAE’s reputation, and fulfil the country’s goal of becoming the best country in the world by 2071.
As outlined by the government’s official website, the plan is based on four pillars: a future-focused government, excellent education, a diversified knowledge economy, and a happy and cohesive society.
Al Arabiya English’s Tala Issa contributed to this report