UAE economy to increase 5% in 2011

09 May 2011

(MENAFN) UAE’s central bank governor, Sultan Nasser Al Suweidi, said that the Emeriti economy would grow by a maximum of five percent in 2011 as capital flows are not expected to grow because of the unrest that the Arab World is undergoing, reported Reuters.

The governor elaborated saying that no important changes were taking place in the UAE and thus growth would remain at a slow pace.

However, the governor pointed out that the central bank prepared measures for responding to any sudden changes in economic conditions.

It is worth noting that the governor did not reveal whether the country’s policies regarding investment in sovereign wealth funds would change depending on emerging political conditions in the region.

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