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UAE real GDP expected to grow 4.2% this year

According to the UAE National Bureau of Statistics, the country's economy is expected to grow by 4.2% in real terms this year, much faster than in 2010, due to robust oil prices, Reuters has reported. Real gross domestic product of the country expanded by 1.4% in 2010, after a 1.6% contraction in the previous year due to the global financial crisis, which slashed oil output and burst a local property bubble. "There was recovery that we can feel in the economic sector," said Sufyan Daghra, economic statistics expert at the National Bureau of Statistics.