UAE growth to hit 4.5 per cent in 2012

12 December 2012

Growth is faster than many analysts had been predicting

Economic growth in the UAE is expected to hit 4.5 per cent, up from 4.1 per cent last year, according to Economy Minister Sultan bin Saeed al-Mansoori.

Dubai’s economy is expected to grow 4 per cent and the Abu Dhabi economy 3.9 per cent, according to officials. The growth is higher than some forecasts, with the local Emirates NBD only predicting 3 per cent growth for the UAE.

Al-Mansoori made the statement after meeting with 18 EU ambassadors to the UAE to discuss trade links, where he urged EU countries to remove obstacles to the flow of UAE trade with the European bloc.

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