Middle East Economic Survey


No 23



UAE Economy Expected To Grow By 3-4% In 2009, Says AMF

The UAE economy is expected to grow by 3-4% in real terms in 2009 despite the downward pressure of the global credit crunch and recent cuts in oil revenues, the Arab Monetary Fund (AMF) predicted on 1 June. The AMFs first quarter bulletin also predicted that UAE inflation will decline to 6-8% this year from a record 14% in 2008. Preliminary estimates point to a slowdown in the UAEs gross...