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FINANCIAL NEWS
UAE GDP to hit $272 billion
13 Sep 2010
(MENAFN) A report issued by the Economist Intelligence Unit (EIU) showed that the UAE economy will be boosted to a record high of nearly $272.2 billion due to higher oil prices, Gulf News reported.
According to the report, the increase means that the UAE will be able to maintain its position as the second largest Arab economy after Saudi Arabia, and the second in terms of gross domestic product (GDP) per capita income.
Nominal growth is projected at approximately 9.3 percent against a contraction of nearly 11.9 percent in 2009, which was mainly caused by low oil prices.
However, this year, EIU�s figures showed that growth remains far below the sharp increase in the nominal GDP recorded in 2007 and 2008, when it jumped by 22 and 36 percent respectively.
More News
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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