UAE economy expected to grow around 10% in 2027, Central Bank Governor says

Bangkok: Khaled Mohammed Balama, Governor of the Central Bank of the UAE and the UAE Governor to the International Monetary Fund, delivered the UAE’s keynote address at a high-level meeting of central bank governors and finance ministers from the Middle East, North Africa, Afghanistan and Pakistan (MENAP) region with the International Monetary Fund. The meeting, attended by IMF Managing Director Kristalina Georgieva, was held as part of the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group in Bangkok, Thailand. Balama said the UAE’s growth outlook remains positive, with economic growth expected to reach around 10% in 2027. He attributed the strong performance to the accelerated expansion of non-oil sectors, continued investment in infrastructure projects and increased oil production capacity following the UAE’s exit from OPEC. He said the UAE economy has maintained exceptional resilience, supported by strong financial buffers, low levels of public debt and substantial sovereign assets that bolster investor and market confidence despite regional challenges and heightened global uncertainty. Balama said the UAE represents a prominent model of structural resilience through its success in diversifying its economic base, adopting sound policy frameworks and promoting sustainable investment in human capital and technology. He noted that the current global economic environment is characterised by multiple and overlapping shocks, continually testing the resilience of economies and financial systems. Regional experience, he said, has shown that resilience depends primarily on the speed of economic responses and the ability to adapt to change, alongside the development of proactive financial buffers. Balama added that risks to the global economy remain elevated amid continuing regional geopolitical tensions. He stressed the importance of strengthening international cooperation to protect global growth prospects and reduce inflationary pressures. He also expressed the UAE’s appreciation for the pivotal role played by the International Monetary Fund in supporting the stability and growth of economies across the region.