UAE economy has 'proved its competence'

  • Share via facebook
  • Tweet this
  • Bookmark and Share

The UAE’s economy has proved its competence for overcoming the global financial crisis, the Minister of Economy said on Saturday.

Sultan Bin Saeed Al Mansouri said the “wise policies of economic diversification adopted by the country's leadership” had lessened the impact of the downturn in the country, WAM reported.

His comments follow those of UAE President Sheikh Khalifa bin Zayed Al Nahyan, who in his National Day address, said that the country’s “strong economy, and our prudent management of our public and private institutions, we were able to contain the negative effects of the crisis and overcome many of its results and implications.”

Speaking at a meeting in Dubai with EU ambassadors, Al Mansouri said the UAE economy was projected to grow by 1.3 percent this year and 3.2 percent in 2010.

He told the news agency that economic growth this year could not be compared to 2008 because of the “economic booms in various sectors” last year.

He said: “Economic growth will see a gradual rise in the coming phase finally reaching the stage of rapid growth after containing the repercussions of the global financial crisis.”

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Women edge into Gulf boardrooms as economies, societies shift

Women edge into Gulf boardrooms as economies, societies shift

Amina al-Rustamani, CEO of TECOM Investments, is leading the...

2
Concerned for stability, Saudi Arabia tightens curbs on dissent

Concerned for stability, Saudi Arabia tightens curbs on dissent

Gulf kingdom intensifies crackdown on domestic dissent, raising...

Frustrated Kuwaitis ask, why is Kuwait falling behind?

Frustrated Kuwaitis ask, why is Kuwait falling behind?

Citizens wonder why oil producer Kuwait is not as dynamic a hub...

4
Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams