Dubai to grow 4 percent

31 Mar 2011

(MENAFN) Dubai’s government announced that economy in the emirate would grow by a maximum of four percent as the trade and logistics sectors would recover more strongly this year, reported Gulf Daily News.

The government added that the recovery of other trade partners such as India would boost Dubai’s recovery even more.

On another note, the International Monetary Fund had revealed forecasts for the economic output of the emirate to grow by 2.8 percent this year.

It is worth noting that Dubai is weighed down with total debts of USD115 billion.

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