UAE economy to grow despite low oil prices

Despite the drop in global oil prices, the UAE economy is expected to continue to grow due to the emirates’ strategic plan to diversify its economy, Sultan Al Mansouri, UAE Minister of Economy said recently at the opening ceremony of Annual Investment Meeting (AIM) 2015 in Dubai. The average growth rate of developing countries is projected to rise moderately from 3.3 per cent in 2014 to 3.5 per cent in 2015 according to the International Monitory Fund (IMF).