Growth spurt expected for UAE

Taiwan's News.Net
Tuesday 29th December, 2009

Real gross domestic product in the UAE is expected to see growth in 2010 which will be fed by improving global economic conditions and surging oil prices.

The Dubai Chamber of Commerce & Industry has released an analysis of business conditions in the UAE which says that eased liquidity conditions, lower interbank lending and the government’s fiscal stimulus packages will play a major role in next year’s economic recovery.

The report, however has stressed that the sustainability of an economic recovery will depend on achieving a rebalancing from public to private consumption.

The UAE economy grew at 1.3 per cent in 2009 and is expected to 3.2 per cent in 2010.

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