UAE economy rebounds
Wednesday, 3 April 2019
DUBAI, Apr 02 (Reuters): The United Arab Emirates' economy grew by around 1.7 per cent in 2018, slower than projected despite a boost from higher oil prices, official preliminary data showed.
The UAE growth figures follow Dubai's disclosure last week that its economy grew by 1.94 per cent in 2018, its slowest pace since a contraction in 2009 when the economy was hobbled by a debt crisis. Oil producer UAE had projected in December growth between 2.5 and three per cent for 2018, with Gulf economies benefiting from higher oil prices after OPEC members and other producers cut output to tackle a supply glut.