The UAE’s real GDP is forecasted to remain stable at 4% in 2024, with an expected increase to 5.1% in 2025, according to the latest World Economic Outlook (WEO) released by the International Monetary Fund (IMF). The report, published alongside the 2024 IMF/World Bank Group Annual Meetings, also outlines moderate growth prospects for the broader…
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IMF raises growth outlook for developing Asia, but warns of China property risks
The International Monetary Fund (IMF) has upgraded its growth forecast for developing Asia economies in 2024, thanks to strong performance by India and higher government spending by China. However, it also cautioned that China’s property sector crisis could pose a threat to the region’s recovery. In its latest World Economic Outlook report, the IMF projected…
AI to reshape global economy and job market, IMF warns
A new report from the International Monetary Fund (IMF) says that artificial intelligence (AI) will have a profound impact on the global economy and the future of work, bringing both opportunities and challenges. The report, titled Gen-AI, estimates that 40 per cent of jobs worldwide will be affected by AI, either by enhancing productivity or…