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Friday, 22 April 2016
UAE economy to sustain solid growth despite headwinds: IIF | GulfNews.com
UAE economy to sustain solid growth despite headwinds: IIF | GulfNews.com:
"The UAE economy will sustain strong economic growth in 2016 despite the strong economic headwinds from a prolonged slump in oil prices, according to Institute of International Finance, a global association of leading financial institutions.
“We expect overall growth to moderate from an estimated 3.5 per cent in 2015 to 3 per cent in 2016 due to a smaller contribution to growth from oil production. Non-hydrocarbon growth is expected to remain relatively strong at 3.3 per cent, as a pickup in private growth offsets the drag from the decline in public spending,” said Dr Garbis Iradian, chef economist, Middle East and Africa, IIF.
"
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"The UAE economy will sustain strong economic growth in 2016 despite the strong economic headwinds from a prolonged slump in oil prices, according to Institute of International Finance, a global association of leading financial institutions.
“We expect overall growth to moderate from an estimated 3.5 per cent in 2015 to 3 per cent in 2016 due to a smaller contribution to growth from oil production. Non-hydrocarbon growth is expected to remain relatively strong at 3.3 per cent, as a pickup in private growth offsets the drag from the decline in public spending,” said Dr Garbis Iradian, chef economist, Middle East and Africa, IIF.
"
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