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Dubai’s economy to grow 4-5% in 2012, says DEC

Dubai's Economic Council has said the emirate's gross domestic economic product is projected to pick up and grow by around 4-5% in 2012, fuelled by strong performance of trade and other non-hydrocarbon sectors, Emirates 24-7 has reported. "Growth this year will be supported by expansion in overall economic activities and strong performance of key sectors…this was shown in the first quarter of 2012," said Ali Tawfiq Al Sadeq, chief economist at the council.