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UAE economy to grow 3.2 percent in 2010 minister
March 10, 2010
The United Arab Emirates economy is expected to expand by 3.2 percent in 2010, in sharp contrast to an International Monetary Fund forecast of 0.6-percent growth, a minister said on Tuesday.
"The coming period will witness gradual growth, initially, picking up momentum," UAE Economy Minster Sultan al-Mansuri told a forum in Dubai.
He also said the oil-rich Gulf state's economy grew by an estimated 1.3 percent last year, although the IMF said last month that the UAE economy had contracted by 0.7 percent in 2009 due to the global financial crisis.
"Our GDP (gross domestic product) grew 6.2 percent in 2007 and 7.4 percent in 2008 and (had) an estimated growth of 1.3 percent in 2009 and (is expected to grow) 3.2 percent in 2010," he said.
Original Posting At: Zawya
"The coming period will witness gradual growth, initially, picking up momentum," UAE Economy Minster Sultan al-Mansuri told a forum in Dubai.
He also said the oil-rich Gulf state's economy grew by an estimated 1.3 percent last year, although the IMF said last month that the UAE economy had contracted by 0.7 percent in 2009 due to the global financial crisis.
"Our GDP (gross domestic product) grew 6.2 percent in 2007 and 7.4 percent in 2008 and (had) an estimated growth of 1.3 percent in 2009 and (is expected to grow) 3.2 percent in 2010," he said.
Original Posting At: Zawya
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