UAE central bank expects low growth in 2010

Sultan Nasser al-Suweidi, the governor of the UAE's central bank, told a media briefing yesterday that the country's growth is projected to be low in 2010, but better than the previous year, Reuters has reported, citing a source at the briefing. The International Monetary Fund forecast last month that the UAE economy would grow zero to 1% in 2010 as the impact of Dubai's debt restructuring continues to be a drag on its performance. 'We don't contradict their prediction but the IMF changes their forecast from time to time,' Suweidi said.