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FinancialNews
17-07-22
Dubai’s Q1 economy jumps 5.9pct as financers repose trust in govt procedures
(MENAFN) Dubai’s gross domestic output maintained a rising expansion streak with the economy increasing 5.9 percent in the January-march period of this year, as financiers reposed trust in the emirate’s consistent financial strategies and flexible legislative environment.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, revealed this during ruling over the Executive Council conference at the newly-inaugurated Mohammed bin Rashid Library in Dubai on Thursday.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Premier and Minister of Finance, was also attending on the occasion.
Sheikh Hamdan stated that Dubai’s economy reached Dh102 billion (nearly USD27.7B) throughout the first quarter after reaching 6.2 percent GDP expansion last year, which confirms the emirate’s firm performance and its capability to adapt and grow.
It stated that “The transport and warehousing activity recorded 40.4 percent year-on-year growth during the first quarter.”
MENAFN17072022000045014228ID1104542026
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