Dubai’s economy to grow around 5% this year | GulfNews.com

Dubai’s economy to grow around 5% this year | GulfNews.com:



"Dubai’s economy is expected to grow around 5 per cent this year, a similar pace to 2013, the head of its statistics office said on Monday.



Growth in the Gulf emirate, the region’s trade and business hub, picked up strongly last year, buoyed by the prospect of government real estate projects worth tens of billions of dollars following a property market crash in 2008-2010.



“It is expected that growth... will reach around 5 per cent in 2014,” Executive Director Arif Obaid Al Muhairi said on the Dubai Statistics Center’s website www.dsc.gov.ae. “We expect that the current year will witness growth close to these rates.” The economy grew around 4.5 per cent in the first nine months of last year, he said."



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