Sunday, 05 December 2021 08:52 GMT

Emirate of Sharjah’s recovery to remain fixed at 2.2 percent until 2024

(MENAFN)According to ratings agency S&P Global, the emirate of Sharjah’s economy is estimated to recover by 4 percent in the current year.

This recovery that is going to still fixed at 2.2 percent on average until 2024, is carried by a faster recovery to “domestic normalcy in the UAE” due to the fast COVID-19 inculcation of the country.

Sharjah’s headline fiscal shortfall is going to increase further 2021 due to high levels of capital spending – 10 percent of GDP, in comparison to 8 percent in last year.

The report stated that “We expect Sharjah to remain in fiscal deficit averaging 7.4 percent of GDP over our forecast period through 2024,” saying that it does not expect capex to decline over the forecast period.

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