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 an

To continue reading...