3.27 PM Friday, 27 September 2024
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:52 06:06 12:13 15:36 18:14 19:27
27 September 2024

UAE GDP growth at 3-3.5% in 2011: Mansouri

Inflation will be under control, says Economy Minister Al Mansouri (FILE)

Published
By Reuters

The UAE's gross domestic product (GDP) is expected to grow between 3 and 3.5 per cent in 2011, the Gulf Arab state's economy minister said on Tuesday.

"We are expecting this year's GDP to range between 3 and 3.5 per cent," Sultan bin Saeed Al Mansouri told reporters on the sidelines of an investment event.

"Inflation will be under control. So far we predict it will be hovering between 1 and 1.5 per cent," he also said.

"But I am not worried about it."

Analysts polled by Reuters in March said they forecast the economy of the world's third-largest oil exporter to expand by 3.4 per cent this year and annual inflation to be 2.5 per cent.