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Economy to Post Better Growth in 2010: Al Mansouri
ABU DHABI — The UAE Minister of Economy Sultan bin Saeed Al Mansouri on Wednesday said the UAE economy is set to post better growth rate in next year than the current year. Earlier this week, the minister put economic growth estimates for the year at 1.3 per cent.
For his strong optimism for 2010, he termed a drop in inflation rate and rise in investments in the economy as encouraging signs emerging on nation’s economic horizon.
The International Monetary Fund forecast the second-largest economy in the Arabian Gulf to contract by 0.5 per cent this year.
The UAE is expected to see 3 per cent growth in its real gross domestic product in 2010, IMF said.
Al Manosuri, who was talking to Jean-Pierre Jouyet, the Chairman of French Financial Services Authority, the corporate regulator, here in the capital, noted that good financial indicators in corporate sector reflect the positive scenario in the financial markets and underline their foray into the recovery track especially that prices of shares reached a stable price levels and began to take an uptrend course.
Both officials also discussed prospects of joint cooperation between the stock market regulators in the two countries.
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