Dubai economy will continue to growth over the coming years, as per Emirates NBD Bank view.
Emirates NBD Bank forecasts Dubai real GDP growth at 3.5% for this year and 4% in 2025.
Following Dubai government announcement of an expansionary three-year budget plan.
This ambitious budget, emphasizes infrastructure spending and supports the bank’s view for Dubai economy.
Dubai Economy Will Grow by 4% in 2025
According to a recent Emirates NBD report, despite increased spending, Dubai’s budget is expected to maintain a surplus.
Due to the robust revenue growth and diversified income sources.
Dubai has approved a three-year budget from 2025 to 2027, totaling AED 272 billion ($74 billion).
As well as projected revenues of AED 302 billion, marking the largest budget in Dubai’s history.
The budget for 2025 allocates AED 86.3 billion in spending, a 9% annual increase.
This increase, though more moderate than the 17% rise in 2024.
It also reflects steady government investment in line with Dubai’s 2030 Strategic Plan, D33 Economic Agenda, and 2033 Quality of Life Strategy.
2025 Budget Will Focus on Infrastructure Projects
The report further notes that 46% of next year’s budget will focus on infrastructure projects, including:
- Transportation
- The expansion of Al Maktoum Airport
- New Blue Line Metro
- Renewed sewage network that is essential to support Dubai’s projected population of 5.8 million by 2040.
In a statement marking Flag Day, HH Sheikha Fatima bint Mubarak, the Mother of the Nation, expressed ‘We renew our loyalty and allegiance to our beloved nation and our wise leadership’#FlagDay #UAEFlagDay #يوم_العلم_الإماراتي#يوم_العلم pic.twitter.com/NnQa1tSklw
— UAE Voice (@uae_voiceeng) November 1, 2024
Additionally, the budget allocates 30% to social development (encompassing health, education, and research), 18% to safety and security, and 6% to public services.
With a focus on digital transformation to streamline government services and reduce long-term spending.
Dubai economy revenues for next year are expected to touch AED 97.7 billion, an 8% increase from this year.
Driven by real estate and government investments (projected to grow by 17%) and an expanding tax base, including VAT, excise taxes, and corporate tax.
