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UAE stays on growth path
Growth forecast for the UAE and most of the Gulf economies has been revised down for 2019 and 2020 due to cuts in oil production. The growth for the wider Mena region is projected to remain subdued.According to the World Bank's latest report, the UAE's growth was cut by 0.4 per cent and 0.2 per cent to 2.6 per cent for 2019 and 3 per cent for the next year, respectively, from its January 2019 forecast. While growth rate for 2021 was maintained at 3.2 per cent.
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