The UAE economy is estimated to grow more than 3 per cent this year and it is hoped that it will reach a sustainable annual growth of 5 per cent after that, a senior official of the UAE Central Bank said here yesterday.
"The country is again in recovery mode, with econ-omic growth reaching 2.5 per cent in 2010," said Nariman Abdullah Kamber Al Awadi, chief manager at the Central Bank's training and development unit. Al Awadi was speaking at a seminar organised by the Emirates Centre for Strategic Studies and Research (ECSSR).
Al Awadi said inflation in the UAE was at a low 1.7 per cent last year, but is estimated by the International Monetary Fund (IMF) to increase to 3.9 per cent this year.
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