UAE economy grew around 4% last year

  • United Arab Emirates: Saturday, January 19 - 2013 at 01:48

The UAE economy minister Sultan bin Saeed al-Mansouri has said the country's economy is estimated to have grown by around 4% in 2012, little changed from the previous year, and a similar clip is seen in 2013, Reuters has reported. "I am waiting for the [gross domestic product] figures [from last year] ... but the estimate will be hovering around plus 4%," said al-Mansouri. In November, al-Mansouri estimated the UAE's inflation-adjusted GDP would grow by 3.5 to 4% in 2012, below 4.2% in 2011 as the global slowdown, partly due to the Eurozone debt woes, was expected to take its toll.

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