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.)
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.
