Dubai’s economy should grow by up to four per cent this year helped by a recovery of trade and logistics sectors, Mohammad Lahouel, chief economist at Dubai’s Department of Economic Development told a conference on the Gulf emirate’s economic outlook.
Following a vibrant recovery of trade and logistics sectors, growth is expected to accelerate in 2011 between three and four per cent.
The economic output of Dubai is estimated to have grown by 2.2 per cent last year, after a 2.4 per cent contraction in 2009, the statistics centre said this month.
The International Monetary Fund predicted 0.5 per cent real gross domestic product growth in 2010 as the regional trade and business hub was hit by debt troubles at its state-owned conglomerates last year.
