UAE show economic growth in 2011

According to the International Monetary Fund, the UAE real GDP is projected to rebound by around 3.3 percent in 2011 as the domestic economy continues go gain pace on the back of high public spending and recovery in Dubai. Growth will be in both oil and non-oil sectors while strong oil prices will support economic expansion and surpluses in the country’s budget and current account, the Washington-based IMF said in statement. In concluding the 2011 Article IV consultation, the IMF executive directors found that the UAE economy, the second largest in the Arab world after Saudi Arabia, is recovering, the report said.