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Dubai targets 4.5pc growth this year

Dubai, February 15, 2012

Dubai will aim for economic growth of 4.5 percent this year, up from an estimated expansion of more than 3 percent in 2011, a senior economic official said on Wednesday.

"The GDP of Dubai has witnessed growth of 2.5 percent in 2010 and it is expected to increase over 3 percent in the year 2011," Sheikh Ahmed bin Saeed Al-Maktoum, chairman of the Dubai Supreme Fiscal Committee, said during a presentation on the emirate's economic outlook.

"And we hope in this year we will see more and can get to 4.5 percent."

Dubai accounts for about 30 percent of the gross domestic product of the UAE. Analysts polled by Reuters in December forecast the overall UAE economy would grow 3.1 percent this year after an estimated 3.9 percent in 2011.  - Reuters




Tags: UAE | Dubai | GDP | growth | Sheikh Ahmed |

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