UAE’s Al-Suwaidi says economy will grow 4% in 2010-11
Sultan bin Nasser Al-Suwaidi, governor of the central bank of the UAE, on Monday said the gulf state will grow by 4% on average in 2010 and 2011. The figure is much higher than the 0.6% forecast by the IMF for 2010 earlier this year.
Speaking at a conference in Singapore, Al-Suwaidi said: "The UAE economy will grow in 2010 and 2011 at an expected average rate of 4%".
Al-Suwaidi provided no clear indication of the source of renewed growth but said the UAE was "well placed" to take advantage of
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