UAE real GDP to slow down to 4% in ’13 and 3.8% in ’14, says QNB

UAE real GDP to slow down to 4% in ’13 and 3.8% in ’14, says..:

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QNB has forecasted the UAE’s real economy (inflation-adjusted) to slow down to 4% this year and to 3.8% in 2014, even as inflation is expected to remain “moderate” over the medium term.

The recovery in the UAE’s non-oil sector would be offset by a deceleration in the hydrocarbon segment, the bank said reasoning its downward projection.

Oil production is expected to slow because of “delays” in issuing contracts and “uncertainty” over the 2014 expiration of the 35-year concession on Abu Dhabi’s onshore oil fields, it said."

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