The president said this at a televised meeting with security officials on updating the country's nuclear deterrence doctrine
Declining sharply from estimated 6.7 per cent in 2008, as impact of global economic downturn spikes oil prices and the slump in nation’s real estate sector.
However, it sees economy rebounding to 5.2 per cent in 2010. The Citigroup’s forecast is most optimistic outlook on the UAE economy, in recent weeks as most economists projected a bleak picture of the GCC’s fastest growing economy, with forecasts range between 0.0-2.0 per cent.
The latest Global Economic Outlook report released by Citigroup predicts consumer price index (CPI) falling to 7.1 per cent in 2009, from a high of 12.2 per cent in previous year. For 2010, it expects a marginal rise to 8.3 per cent. The current account balance for 2009 is forecast at 7.8 per cent of the GDP, down from 23.2 per cent. For next year it is expected to surge to 12.6 per cent.
The report predicts a fiscal deficit of 1.4 per cent of the GDP, in sharp contrast from a surplus of 23.2 per cent last year. The deficit is projected to turn into a surplus of 2.5 per cent in 2010.
Infrastructure spending alone will see a 33 per cent increase over 2008, with the largest portion of the overall budget, 45 per cent, will be allocated to road and transportation,
The federal government in its budget for 2009, late last year allocated a 24 per cent increase in infrastructure spending versus 2008.
The president said this at a televised meeting with security officials on updating the country's nuclear deterrence doctrine
Simeone said central midfielder Koke did not train on Wednesday having played more minutes than any other player in the squad
It is reportedly the largest number of executions reported in one day in years in Iraq
The issue date will be on October 2, with the maturity date for the first issue due on October 30
The seven NBA and WNBA legends collectively amassed 44 All-Star appearances
Wazed happy with army chief's tentative timeline on vote
Lack of numbers in parliament is one of the five key reasons for Dissanayake deciding to hold polls on November 14
Media reports suggested Shakib played the first of two Tests with a finger injury when India handed Bangladesh a 280-run thrashing in Chennai