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Saturday, 14 January 2017

Al Mansouri confident about economic growth prospects in 2017 | GulfNews.com

Al Mansouri confident about economic growth prospects in 2017 | GulfNews.com:

"The UAE’s Minister of Economy, Sultan Al Mansouri, said he was confident about the country’s prospects for economic growth in 2017 despite challenges like lower oil prices. He expects growth rate this year to remain almost steady compared to 2016 at three per cent.
In an interview with Gulf News, Al Mansouri said his optimism was fuelled by factors that include the UAE’s economic diversification policy, which is reducing reliance on oil income. He said non-oil contributions to the Gross Domestic Product (GDP) grew by 3.6 per cent in 2016, and said that analysts are eyeing a non-oil growth rate of up to 3.8 per cent in 2017.
“With all of this … the UAE will surely come out with positive results of a clear future, further raising the attractiveness of the UAE’s business environment. This is also likely to result in GDP growth of 3 per cent in 2017, complementing the International Monetary Fund’s prediction of a growth rate of 3.3 per cent, up from 3.1 per cent at the end of 2016,” the Minister said via email."



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