UAE economy to grow at a healthy rate this year: Standard Chartered | GulfNews.com

UAE economy to grow at a healthy rate this year: Standard Chartered | GulfNews.com:



"The UAE economy is expected to grow at a relatively healthy rate of 3.8 per cent in 2015, lower than the 2014 growth of 4.5 per cent, according to Standard Chartered’ s Global Focus report.



While Dubai’s tourism and retail sectors are expected to face a more challenging environment, the outlook for the its trade sector dynamics is improving as the hub for 55 per cent of the region’s trade, Dubai benefits from ongoing trade flows as well as GCC countries continue to spend on their economies.



“We now estimate that Dubai’s trade sector will grow by a more robust 7 per cent in 2015 (against our earlier projections of 4.5 per cent) as improving regional trade dynamics support trade flows through Dubai ports,” said Shady Shaher, an economist with Standard Chartered."



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