UAE central bank expects “low” growth in 2010
The country will see “real economic growth in 2011,” according to the bank.
February 8, 2010 8:27 by kippreport
The UAE’s growth rate will be “low” in 2010, but better than in 2009, Sultan Nasser al-Suweidi, the UAE central bank governor said in a media briefing on Monday. The central bank expected the nation’s growth rate to be “slim” in 2009, he said, adding that by 2011, the UAE “will see real economic growth.”
The International Monetary Fund (IMF) said last month that it estimates the UAE economy to grow between zero and 1 percent in 2010.
“We don’t contradict their prediction but the IMF changes their forecast from time to time,” Suweidi said.