Economic growth in UAE seen suffering next year

Posted by 7Star Saturday, December 5, 2009

Economic growth in the United Arab Emirates is set to disappoint next year, with Dubai debt woes expected to boost credit costs as investors can no longer count on implicit government support for indebted state companies. The global credit crunch sent the top Gulf Arab economies - Saudi Arabia and the UAE - into downturn this year, but high state spending and a turnaround in oil prices were seen helping the world's top-oil producing region to get back on its feet.

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