UAE’s Central Bank Predicts 2.8% Economic Growth

  • Dubai, United Arab Emirates
  • 6 November 2018
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Governor of the UAE’s Central Bank revealed a GDP growth at 2.8 percent in the Country by the end of 2018.
"GDP is expected to grow by 3.1 percent in the third quarter of this year and by 4.2 percent in 2019," Governor Mubarak Rashid al-Mansouri stated in a conference in Abu Dhabi.
Al-Mansouri expected inflation to reach 3.6 percent by the end of this year. The non-oil sector in UAE is likely to grow by 3.3 percent by the end of the third quarter. Pointing out that "linking the currency of the country to the dollar served it well."
"The UAE is attracting more money because it follows the US Federal Reserve interest rates," he said.

Source: (Al-Arabiya.net, Edited)

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