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UAE to grow 3.5 percent in 2013

November 11, 2012 12:31 by Reuters

The United Arab Emirates’ economy is expected to grow about 3.5 percent in 2013, the economy minister said on Sunday.

“Depending on what is the global situation…I see it (growth) at around 3.5 percent next year, also depending on what oil prices will be,” Sultan bin Saeed al-Mansouri told Reuters.

Economic growth in 2012 is expected to be in a range of 3.5-4 percent, Mansouri said earlier in the day.

Analysts polled by Reuters in September forecast on average that economic growth in the UAE would slow to 3.2 percent in 2012 from 4.2 percent last year, and rebound slightly to 3.5 percent next year.