Tuesday 18 October 2011

UAE 2011 real GDP growth seen at 4.2 pct - stats office | Energy & Oil | Reuters

The United Arab Emirates' economy is expected to grow by 4.2 percent in real terms this year, much faster than in 2010, helped by robust oil prices, the National Bureau of Statistics said on Tuesday, citing preliminary data.

Asked about key drivers of economic growth this year, Sufyan Daghra, economic statistics expert at the National Bureau of Statistics, said: "The increase in petroleum prices...and the impact of diversification and other economic activities."

He told a news conference, "There was recovery that we can feel in the economic sector."

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