The UAE economy is expected to grow at a rate between 3.25 to 5 per cent in 2013 in a world still grappling with economic and financial challenges. And much of that growth is a result of government projects tendered in 2013, according to experts interviewed by Gulf News.
According to Dr Waddah Taha, chief analyst and economist at Zarouni Group, the closer estimate of UAE growth would be between 3.25 to 3.5 per cent for 2013.
“I am optimistic yet cautious about international challenges and their impact on the UAE economy,” he said. What is more important, however, is not growth rate but rather the containment of inflation and its negative effects, he cautioned. “We know that real economic growth is calculated after deducting inflation; once this is done we can judge that the economy is acting positively thereof.”
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