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FINANCIAL NEWS
UAE’s 2012 economy expands at around 4%
17 Jan 2013
(MENAFN) UAE’s Economy Minister, Sultan bin Saeed al-Mansouri, stated that the country’s economy is forecasted to have expanded by around 4 percent last year, reported Arabian Business.
Al-Mansouri said that the figure is almost similar to that recorded in 2011, noting that also 2013 will see a similar growth, as there will be no major changes, neither in oil prices nor in the general situation of the global economy.
In December, the country’s non-oil private sector grew to a 19-month high, due to a sharp rise in new orders.
As for inflation, the minister said that it should be mild at between 1 percent and 1.5 percent in 2013, from 0.7 percent last year.
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