Sultan bin Nasser Al Suwaidi, the governor of the Central Bank of UAE, who was addressing the media on the margins of the World Islamic Banking Conference, mentioned that the economy of the nation is expected to grow by about 4% over 2010 and 2011. “Average growth for the two years [2010 and 2011] is around four per cent and it is expectedâ€, he said.
Sultan bin Saeed Al Mansouri, the Economy Minister of the UAE, had mentioned in May that the economy of the nation has the capacity to showcase a growth of 3.2% this year, as an oil barrel now is priced at $85. But the International Monetary Fund’s revised forecast regarding the UAE GDP contradicts these expectations. The IMF has predicted a growth of 1.3% in the GDP for this year.
According to Al Suwaidi, the top-notch, state-of-the-art infrastructure of the UAE has been designed in such a way so as to reap substantial benefits from the continuously growing investment and trade flows.
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