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FINANCIAL NEWS
UAE economy growth hard to exceed 3 percent
25 Feb 2016
(MENAFN) Low oil prices will be difficult for the economy of the UAE to grow more than 3 percent this year, according to economy minister which stated in reports.
Accordingly, it is a challenge for the country, which all depends on what will happen to prices of oil as the country move on.
Moreover, UAE’s gross domestic product spread between 3 and 3.5 percent in 2015, while it was predicted economic growth will be in the same range in 2016.
It also was planned to reduce oil’s contribution to GDP to 20 percent by 2021 from almost 30 percent recently, by increasing the economy.
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