UAE’s short and medium-term growth prospects are positive | GulfNews.com

UAE’s short and medium-term growth prospects are positive | GulfNews.com:

"The UAE’s short and medium-term growth prospects are positive, and external downside risks, while still substantial, have declined, according to International Monetary Fund (IMF).
In its latest assessment of the UAE economy, the IMF said it expects the country’s non-oil economy to expand by over 4 per cent per annum in the coming years on the back of Dubai’s strong core services sectors and Abu Dhabi’s diversification efforts.
IMF said a broadening recovery in construction and real estate, and ongoing growth in tourism-oriented sectors are expected to underpin a further acceleration in non-oil growth to 4.3 percent this year. “Non-hydrocarbon growth is expected to remain strong at above 4 percent in the medium term, though subject to substantial external risks. Inflation remained subdued at 0.7 per cent in 2012, and is expected to pick up only moderately in 2013.”"

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