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Dubai economy to grow 3.5% in 2011

05/05/2011 - Dubai Investment News Posted by Bob Brunskell
Dubai property investment opportunity - The First Group
Dubai economy to grow 3.5% in 2011
Dubai's economy is expected to grow by 3.5 per cent this year, according to the US-based Institute of International Finance (IIF).Its report on UAE and Arab nations, titled The Arab World in Transition: Assessing the Economic Impact, highlights the positive upward trend investors in Dubai will witness over the coming months.The growth is compared to a fairly weak rebound seen last year of 1.7 per cent.Garbis Iradian, IIF deputy director, Middle East and Africa Department, commented: "Growth in the GCC (Gulf Cooperation Council) will accelerate in 2011 while the combined current account surplus is set to surge from $129 billion to $292 billion, raising the level of their gross foreign assets to $1.7 trillion by year end."The report also suggested that owing to the political turmoil in certain Arab nations, the UAE economy will benefit from increased trade, tourism and finance.Indeed, a report published at the Arabian Travel Market event in Dubai this week confirms that unrest in Libya, Egypt and Tunisia has boosted tourism in the UAE, Gulf News reported.  
Dubai property investment opportunity - The First Group



    
    
       
	
    
	
	
    
    
    
    

    
    
    
    
    
    
    
   	
	
    
    
    
    

    
    



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