Business | Economy

UAE denies revising growth rate

The Ministry of Economy (MoE) has denied issuing any official report predicting a decline in the economic growth rate in the UAE as reported by a foreign news agency.

  • WAM
  • Published: 00:04 July 10, 2008
  • Gulf News

Abu Dhabi: The Ministry of Economy (MoE) has denied issuing any official report predicting a decline in the economic growth rate in the UAE as reported by a foreign news agency.

Rashid Al Suwaidi, Assistant Under Secretary for Planning and Statistics, MoE, said in a press statement yesterday: "The MoE has not released any new report about economic growth in the country other than that it issued in last March in which it set real economic growth at 7.4 per cent in 2007 compared with 2006." He affirmed that the MoE had not introduced any change in its official economic statements during 2001 and 2007.

A Reuters report had quoted the Ministry as having revised down the UAE's 2007 growth rate to 5.2 per cent.

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