UAE economy seen growing 2.25%

Wednesday, 10 November 2010 22:24 - - {{hitsCtrl.values.hits}}

Abu Dhabi (Reuters) - The United Arab Emirates economy is expected to grow by 2.25 percent this year, Arabic daily Al Bayan quoted the country’s energy minister as saying.

Mohammed bin Dhaen Al-Hamli also said there was a renewed optimism about the UAE economy after the end of the global financial crisis, the newspaper said on Wednesday.

The global credit crunch ended an oil and real-estate driven boom in the world’s third largest oil exporter, pushing it into its first downturn since 1993. Dubai debt woes have been weighing on the second biggest Arab economy this year.