UAE and Oman give higher forecast for 2009 growth

Posted by 7Star Thursday, October 22, 2009

The United Arab Emirates said on Wednesday the Arab world's second-largest economy would grow 1.3 percent in 2009 with anti-crisis measures boosting confidence, while Oman gave the highest growth outlook so far for this year. The UAE growth forecast would mark a significant slowdown from 2008 but is still welcome news given the warning last month from the country's central bank that the economy could contract this year.

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