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January 17, 2017 | 15:00 | Dubai
His Highness Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation, Chief Executive of the Emirates Group and Chairman of the Economic Development Committee in Dubai, said the economy of Dubai grew by 2.7% in real terms in 2016 despite declining oil prices, sluggish growth in developed as well as many emerging economies, and a mere 1.7% growth in global trade – its lowest since 2008-2009. The emirate is expected to grow by 3.1% in 2017, His Highness added.
Delivering his keynote at the ‘UAE Economic Outlook 2017’ hosted jointly by the Dubai Department of Economic Development and the Abu Dhabi Department of Economic Development, His Highness also revealed that Dubai will announce its future economic outlook twice every year from now onwards – in January and October. The economic outlook will shed light on growth opportunities in the emirate both at the macro-economic and sectoral levels and against the global economic backdrop.