UAE - Mubasher: The UAE has recorded a rise in the amount of salaries paid at the end of the first quarter (Q1) of 2021, compared to the end of 2020 and the last pre-crisis month, February 2020, according to the Central Bank of the UAE's (CBUAE) Wage Protection System.
The country's employment rate in March remained at the December 2020 level, as shown by the CBUAE's 'Quarterly Economic Review' report.
The UAE's inflation declined by 1.7% year-on-year (YoY) in Q1-21, as tradable and nontradable inflation dropped by 0.5% and 2.3%, respectively.
In 2021, the UAE's real total GDP is expected to grow by 2.4%, with projected real non-hydrocarbon GDP growth by 3.8%.
The CBUAE is forecasting that the country's real total GDP would fully recover in 2022 by growing 3.8%, and non-hydrocarbon real GDP would increase by 3.9%.
In the meantime, the real oil GDP growth is expected to record 3.5% in 2022 amid higher demands with the majority of the world economies being vaccinated.
The tourism and hospitality sector in Dubai recorded a recovery in hotel occupancy to 64% in the first three months of 2021, close to the 69% registered during the same period in 2020, owing to the resumption of international travel.
