Dubai's economy expanded by 2.8 per cent in real terms last year, faster than previously expected, as growth in trade and retail sectors helped the indebted Gulf Arab emirate recover from 2009 contraction, preliminary data showed on Sunday.
One of the seven United Arab Emirates, the Opec producer's trade and business hub, is recovering from last year's $25 billion debt restructuring in its flagship company, Dubai World.
The emirate, which accounts for 28 per cent of the UAE economy, previously estimated 2.4 per cent gross domestic product growth in 2010, a prospectus to the government's updated bond issuance programme showed in June.
No comments:
Post a Comment