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Fast-growing UAE economy has 'strong' fundamentals
The UAE economy achieved real growth of 7.4 per cent in 2007 over 2006 with gross domestic product reaching Dh698 billion, according to the Ministry of Economy.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 00:30 March 17, 2008
Abu Dhabi: The fundamentals of the UAE economy are "very strong" and companies listed on the country's bourses have more growth opportunities than those listed in countries growing less quickly, said Tom Healy, director general of the Abu Dhabi Security Market (ADSM).
"The UAE economy is growing very rapidly and is outperforming global trends. The domestic markets are moving in line with global trends," said Healy.
The UAE stock markets ended down on Sunday, in line with gloomy global financial markets.
Healy, however, said, "Over the long-term, the domestic financial markets should be moving in line with the strength of the UAE economy.".
The UAE economy achieved real growth of 7.4 per cent in 2007 over 2006 with gross domestic product reaching Dh698 billion, according to the Ministry of Economy.
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