Macroeconomic Forecast United Arab Emirates

After a precipitous drop in economic growth from 7.4% in 2008 to an estimated -2.9% in 2009, real GDP growth is projected to climb to 2.8% in 2010 and 5.2% in 2011. Much of this recovery is fuelled by government expenditure and we expect private investment and consumer confidence to be subdued over the near term.

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