Public investment in Abu Dhabi 'supporting recovery'

11/03/2011 - Northern Emirates Property & Investment News Posted by Bob Brunskill
Public investment in Abu Dhabi 'supporting recovery'

The economic recovery in the United Arab Emirates (UAE) is being supported in part by high public investments in Abu Dhabi.

This is the view of a recent report from the International Monetary Fund (IMF), which has suggested that the global economic climate is also supporting growth in the region.

While the UAE is still subject to some uncertainties, such as population declines, stronger trade, logistics and tourism are helping maintain the gradual improvement in its wealth.

Taline Koranchelian of the IMF said that the government's plans to upgrade the infrastructure of the northern Emirates will help to deliver a "more inclusive economic environment".

He added: "While overall growth is expected to remain unchanged in 2011 at three per cent, non-oil GDP growth is projected to accelerate from two per cent in 2010 to three per cent in 2011, reflecting strong tourism, logistics, and trade in Dubai; and large public investment spending in Abu Dhabi." ADNFCR-2019-ID-800456431-ADNFCR