The GCC Investor Confidence Index cherished the performance of UAE economy and has said that regional and global investors' confidence in emirates economy jumped by 15.7 per cent in June compared to previous month.
The UAE recorded highest increase in investor confidence among its GCC peers last month as its rating rose by 16.8 points to 123.8 points from May's 107 points, says Emirates Business 24|7 in its report.
The newspaper quoting an official of GCC Investor Confidence Index says, "The proportion of investors who had a negative view of economic conditions in the UAE declined from 48.6 per cent in April to 36.6 per cent in May and to only 12.4 per cent last month.
"The number with positive views regarding the UAE economy in the coming six months increased significantly from 11.7 per cent in April to 26.8 per cent in May and to 51.7 per cent in June. This is a clear vote of confidence in the UAE economy's outlook from regional and international investors. More than half of investors now have a positive outlook about the country, the official remarked.
In the report, the official said: "The biggest turnaround in investor confidence has been towards the UAE where 20.2 per cent of respondents have a positive view on current economic conditions, 43.8 per cent are neutral and 32.6 per cent view conditions negatively, which adds up to a balance of 12.4 per cent seeing the economic conditions as negative.
"Despite the negative indicator, this development has had a major impact on the overall GCC investment case. In previous months, 36.6 per cent in May and 46.6 per cent in April, investors expressed a much more pessimistic view on the UAE economy, the official observed.
According to the Emirates Business the number of investors with a negative view of current economic conditions in the UAE decreased from 47.9 per cent in May to 32.6 per cent in June, while a slightly increased number of respondents took a more neutral view and 8.9 per cent more investors had a more positive view on the economy. Looking forward, investors see Saudi Arabia, Qatar and the UAE as the economies most likely to improve over the next six months. – Emirates News Agency, WAM
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