Dubai's economy to shrink in 2010, says IMF

25 May 2010

The International Monetary Fund's director for Middle East and Central Asia said today that Dubai's economy will shrink about 0.5% this year, which would be the second straight year of contraction for the emirate, Bloomberg has reported. Abu Dhabi, the largest emirate in the UAE, will grow 3.7% in 2010, Masood Ahmed told reporters in Dubai today.

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