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Economic Outlook
Non-oil growth is estimated to remain resilient in 2017 while OPEC-mandated oil production cuts limit oil growth. However, in the medium term firmer oil prices, a rebound in global trade and easing of fiscal consolidation are expected to strengthen economic activity, especially as investments ramp up ahead of Dubai’s Expo 2020. This rebound is faced with several downside risks including lower oil prices and tighter global financial conditions.
