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  • 10-02-18

    UAE 2018 growth to level up through non-oil sectors

    (MENAFN) Coface's recent country and sector risks report expects UAE's key for the growth this year to be non-oil sectors, like consumption and global tourism.

    The report also found that the introduction of VAT "is not expected to represent a significant drag on growth."

    It also explained "however, subdued oil prices will likely prevent the economy from recording growth rates as high as pre-2014 levels," adding "the UAE is affected by production cuts as agreed with OPEC and non-OPEC countries."

    The venture in Expo 2020 was indicated in the report to be expected to play "an important role in the development of the tourism, hospitality, real estate, construction, and transportation and infrastructure sectors."

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