Friday, 5 August 2011

UAE's unequal development a challenge -U.N. agency - Maktoob News

Economic disparities between the seven-member United Arab Emirates are slowing the development of the Gulf state, the U.N. Development Program (UNDP) said on Thursday.

In an interview, Elissar Sarrouh, UNDP resident representative, said those gaps showed the need to rethink parts of the economic strategy that turned the country from a sleepy desert backwater in the 1960s into an oil powerhouse with the world's eighth highest per capita income at $47,000.

'The economic development model of the UAE is not unified and this calls for rethinking of the federal development paradigm,' she said.

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