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The Emirates economy will grow by 4% this year - Minister of Economics of the UAE

The growth of the UAE economy in 2012 is expected at 4%. "In 2013, the GDP of the United Arab Emirates will grow at the same pace," said GULF News Minister of Economy of the UAE, Mr. Sultan Bin Said Al Mansuri.

They do not expect a large jerk or economic miracle in the UAE. The global economic situation has a negative impact on the Emirates economy. "The UAE economy performance in 2012 was at a high level, but it could become even better this year if the economic situation in Europe and the USA improves. All data, including oil prices, weak growth in China and decline in the eurozone, exert pressure on economic growth in the UAE, as our economy is integrated into world markets," said Al Mansuri.

The pace of inflation in the emirates is expected at 1 - 1.5% both in 2012 and in 2011. Everything will depend on oil prices, the Minister of Economy of the UAE emphasized.


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