UAE GDP Falls 5.6% In 1998
Gross domestic product (GDP) in the UAE fell 5.6% to Dh170bn ($46.3bn)in 1998 from Dh180bn ($49.0bn) in 1997, according to a report issued by the UAE Ministryof Planning last week. The decline in GDP was attributed to the fall in oil prices in1998. Non-oil GDP rose 4.7% to Dh133bn ($36.2bn) in 1998 from Dh127bn ($34.6bn) in 1997, atrend which reflects the governments attempt to diversify away from oil. The reportalso said that the...