The UAE economy is expected to grow three per cent in the year 2012 despite global economic uncertainty and a recent dip in oil prices, a top economic manager said.
“We have put the crisis behind us. Preparing for the next phase of development, we have managed to successfully forge ahead with new plans and strategies,” said Mohammed Ahmed bin Abdulaziz Al Shehhi, Undersecretary at the UAE Ministry of Economy, in a keynote speech at the Standard and Poor’s Leader’s Forum, in Abu Dhabi on Wednesday.
He said the growth has slowed down from 4.2 per cent in 2011, which he called “as the fastest growth rate achieved since 2006”.
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