UAE Recovery Seen Mid-2010 - Central Bank Governor

The United Arab Emirates will see economic recovery in mid-2010, while a decrease in non-performing loans and bank provisions will take longer, the country's central bank governor told Zawya Dow Jones Monday.

"Like anywhere else, the recovery will start next year, likely by mid-year," the governor, Sultan Bin Nasser Al Suwaidi, said in an exclusive interview.

"Generally speaking, [bank] provisions and non-performing loans go together...and take longer than" economic recovery, he said.