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FINANCIAL NEWS
UAE economy to grow 3.5% in 2011: minister
28 Nov 2010
(MENAFN) UAE Minister of Economy Sultan bin Saeed Al Mansouri said that the country’s gross domestic product (GDP) is expected to record up to 3.5 percent growth next year, Gulf News reported.
Al Mansouri said the GDP is expected to reach $272 billion by the end of this year. The minister also expects 3-3.5 percent economic growth in the country in 2011. For the current year�s GDP, he said around 2.5 percent.
He mentioned about the sluggish recovery in the European Union countries and North America. The minister hoped that regional blocs, including the European Union and North America, will quickly address the issues.
For the UAE, he said the indication in the first half of the year is that the country is back on track. The country�s economy has seen strong growth particularly in the aviation sector and trade this year, the minister said.
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