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UAE Economic Growth Accelerates To 5.2% In 2013

UAE Economic Growth Accelerates To 5.2% In 2013

The development of oil output along with a stable level of oil prices contributed to the UAE’s economic growth in 2013.

The United Arab Emirates’ economic growth accelerated to 5.2 per cent in 2013 from 4.4 per cent in the previous year, the OPEC member’s statistics office said on Sunday.

“One of the most important factors contributing to the improvement of the 2013 GDP growth…was the development of oil output and a good and stable level of oil prices in general during last year, when the average oil price reached nearly $108 per barrel,” the National Bureau of Statistics said.

Analysts polled by Reuters in April forecast a deceleration in the UAE’s gross domestic product growth to 4.3 per cent in 2014 and 4.0 per cent in 2015.

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