Central Bank governor expecting slower UAE economic growth | The National:
"The Central Bank governor expects economic growth to slow to 3 per cent this year as the weaker oil price hits investment.
Mubarak Rashed Al Mansoori said the Government is still committed to spending on infrastructure projects amid the biggest slide in oil since the financial crisis of 2008 but would try to reduce unnecessary costs as the economy slows.
“The Government is still continuing with its spending, though they will rationalise any unnecessary investments,” Mr Al Mansoori told reporters in Dubai yesterday. “And some people might argue for governments like the UAE, maybe it’s an opportune time to execute projects at a lower cost. So we will continue necessary projects.”"
'via Blog this'
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