The country cannot bank on growth without lending - The National

You get the sense there are worrying times ahead for the economy of the UAE.

Despite the stock market boom and the faint signs of recovery in some parts of the property market, question marks hang over the all-important issue of growth.

The UAE is not alone in facing a growth problem. China, of all places, recently downgraded its forecasts for the year (admittedly only by a fraction, but below 8 per cent for the first time in two decades); Brazil is unlikely to hit 3 per cent this year; India and Russia similarly face growth downgrades.

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