Dubai economy is resilient to global growth challenges and oil volatility | GulfNews.com

Dubai economy is resilient to global growth challenges and oil volatility | GulfNews.com:

"Dubai’s economy is well diversified and is better prepared to meet growth challenges faced by both developed and emerging economies and the potential impact of a sustained fall in oil prices, Sami Al Qamzi, Director General of Department of Economic Development, Government of Dubai said at the inaugural Dubai Investment Forum.

“Dubai’s economy has grown at an average rate of over 4 per cent annually from 2012-2014, despite the slow growth of the global economy. A key reason for Dubai’s resilience has been the emphasis we place on economic diversification. Today, Dubai’s economy is much more diversified than 2008-2009, and the dramatic transformation of Dubai’s economy that started in the early 70s is now entering a new level,” said Al Qamzi.

Speakers at the event said, the UAE economy is well prepared to withstand global economic challenges as it has undergone a number structural changes in the recent years."



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