Dubai: Dubai's growth will be higher than expected this year and next, said Sami Dhaen Al Qamzi, Director-General of the Department of Economic Development.
"Traditional sectors such as hospitality, aviation, retail and logistics will lead the rise," he said.
The Dubai Statistics Centre revealed last month that the emirate's gross domestic product (GDP) beat forecasts to grow 2.2 per cent in the second quarter of this year.
Asked if Dubai or the UAE are considering implementing a risk response mechanism on the lines of the one being debated by the World Econ-omic Forum, Al Qamzi told Gulf News: "Dubai has high-level panels such as the Supreme Fiscal Committee and others that are constantly monitoring the situation and adjusting policies in response to global developments. That is sufficient for us at this time."
Meanwhile, the UAE's GDP will increase by 3.0 to 3.5 per cent in 2011, Minister of Economy Sultan Bin Saeed Al Mansouri reiterated yesterday.
The increase will be led by Abu Dhabi's contribution and oil prices, he said in Dubai on the sidelines of the WEF's Summit on the Global Agenda. Consumer price inflation will be less than 4.0 per cent, the minister said.
At the closing plenary session of the Summit, Al Mansouri urged nations to come up with a globally integrated action plan to deal with the economic risks facing multiple regions.
"We are proud and honoured that the UAE has been host to a summit that has created a blueprint for the action plan that will be discussed in Davos next month," the minister said.
