Dubai –  Assets of the UAE’s foreign sovereign wealth funds are expected to increase by 8.3% to $785.6 billion in 2018 from $725.4 billion, the Institute for International Finance (IIF) said in a report

The report projected that the GCC nation’s foreign sovereign assets to total $ 807.5 billion (AED 2.96 trillion) in 2019.

For its part, the World Bank also has forecasted that the UAE’s economy will grow at a robust pace this year to hit 2% increase, 3% in 2019 and 3.2% by 2022.

Confidence levels are getting higher in the UAE’s economy, said Jarbis Eradian, vice president of the Middle East and North Africa Institute.

This could be attributed to the rising oil prices and financial incentives proposed for the investors, he further added.

He further predicted that the UAE's non-oil sector growth would reach 2.8% this year and 3.1% by next year.

Source: Mubasher

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