UAE central bank to revise 2020 growth forecast due to coronavirus

The United Arab Emirates' central bank will reassess its forecast for economic growth in 2020 due to the coronavirus outbreak, said Magda Kandil, chief economist and head of research and statistics at the bank.

"Given what has transpired already, given implications on supply chain and demand, and disruption of transportation and tourism and cancellation of events, this will weigh negatively on global growth, and I think the UAE, we have to be realistic in this regard, will see some impact of this," she said, speaking on Dubai Eye radio on Tuesday.

The International Monetary Fund last year had forecast 2020 growth of 2.5% for the United Arab Emirates.