Dubai’s economy declines ! Guessing the possibility of the country becoming poor
By abindra Dhungel, Thu, 6 Aug. The Corona virus epidemic is affecting the world community. Corona has caused many to lose their jobs and the economies of many countries to decline. The economy of the United Arab Emirates (Dubai) has also declined by 74 percent.
Foreign direct investment (FDI) fell by 74 percent in the first six months of the year due to the Corona virus epidemic. Dubai is the largest financial and business center in the Middle East. In the last six months alone, 12 billion dirhams have been invested. During the same period last year, foreign investment was 46 billion .
According to Fahad Al-Zargawi, chief executive director of the Investment Development Agency (Dubai FDI) in Dubai, the global economic downturn caused by the corona virus has had a direct impact on Dubai’s economy.
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