UAE economy estimated to grow at a slower rate this year - IMF | ZAWYA MENA Edition:
"The economy of the United Arab Emirates will grow at a lower rate this year due to the continuation of lower oil prices, a top official in the International Monetary Fund (IMF) said in Dubai on Tuesday, estimating oil prices to average $53 per barrel in the coming two-to-three years.
The economies of the six Gulf Cooperation Council (GCC) countries that include Saudi Arabia and the UAE, the Middle East’s two biggest economies, have been badly impacted by the steep decline in oil prices which began in 2014.
The prices of the important commodity almost halved between June and December 2014, but have been on a slow recovery path since the start of last year."
'via Blog this'
No comments:
Post a Comment