The UAE economy should grow by more than 3 per cent this year and its banking sector is able to weather difficulties in the foreseeable future, a Central Bank official said on Monday.
The country's economy was hit by some debt woes last year and the Central Bank's growth forecast for this year would be below rates seen before the global financial crisis.
However, the economic outlook has been boosted by rising oil prices and after Dubai World, Dubai's flagship conglomerate, sealed a deal to restructure $25 billion in debt in September.
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