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UAE's GDP on track to reach $410bn in 2014

  • United Arab Emirates: 5 hours, 7 minutes ago

The UAE finance minister Sultan Bin Saeed Al Mansouri has said the country's gross domestic product (GDP) will touch $395bn (Dhs1.45trn) this year, before growing further to $410bn in 2014, Gulf News has reported. The UAE's GDP has grown more than 200 times since 1971, from $1.77bn to $360bn in 2012, the minister noted. "Today, the UAE is a major contributor to the growth of the Middle East region. An IIF [Institute for International Finance] report shows that the UAE economy accounted for more than a quarter of the GCC's GDP of $1.482trn in 2012," said Al Mansouri.

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