Real GDP growth rates
in the short to medium term are projected to reach 3.8 per cent and 2.8 per cent in 2020 and 2021, respectively, reported state news agency Wam, citing a report released by the Department of Economic Development (DED) about the Dubai Economy.
By comparing Real GDP growth rates
per employed person, the weakness of the current economic expansion becomes more visible.
The presentation reviewed the main details of the preparation of the state budget for the next fiscal year, the details of the estimated oil and non-oil revenues, and estimated expenditures, in addition to the main economic indicators based on estimated revenues and expenditures, its effect on reserve balances and public debt, and estimates of real GDP growth rates
and inflation, for which the council made the necessary recommendations.
The revision could also show less volatile real GDP growth rates
compared to the current 1994-base series (highly sensitive to weather-related shocks affecting the agriculture sector) and, thus, better underscore the economy's resilience and stability.
It added that it forecasts the real GDP growth rates
for 2018 and 2019 to hit 3.9 per cent each year.
Iyigun said real GDP growth rates
in the GCC are expected to grow to around 2.3 per cent compared to 0.6 per cent in 2017.
(A recent IMF study, for example, concludes that countries can raise productivity by improving the design of their tax system, and that eliminating such barriers would, on average, lift countries' annual real GDP growth rates
by roughly one percentage point over 20 years.)
In FY16 inflation and real GDP growth rates
are expected to be similar to FY15, with growth supported by higher public sector wages, public investment and remittances.
The revisions to real GDP growth rates
are measured as a percentage point difference from the previously published growth rate.
The real GDP growth rates
are projected at 6.9% in 2014, 6.6% in 2015, 5.9% in 2015.
A negative coefficient estimate would suggest that more highly dollarised/euroised countries experienced larger fall in real GDP growth rates
during the crisis.
In this paper we carry out an analysis of quarterly real GDP growth rates
in South Africa for the period 1960 to 2011.