UAE economy manages soft landing with improvements in public finance | GulfNews.com:
"The UAE economy is successfully managing a soft landing amid fiscal pressures on public finance resulting from persistent low oil prices, according to economists and analysts “We continue to think that the UAE has managed a soft landing, with a less pronounced cycle than in 2008. We expect non-oil real GDP growth to have bottomed out as the fiscal drag eases and infrastructure activity picks up,” said Jean-Michel Saliba, Middle East and North Africa (Mena) Economist of Bank of America Merrill Lynch. A gradual pick up in non-oil private sector economic activity in the UAE will be a key driver of economic growth in the country this year and next, but low oil prices and output will continue to be a drag on economic growth, according to the latest UAE Economic Update from Abu Dhabi Commercial Bank (ADCB)."
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