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UAE: Dubai’s growth slips back

The latest GDP figures released by the Dubai Statistics Centre show that the emirate’s economy grew by 1.9% last year, well below most forecasts; the local Emirates NBD bank had predicted 2.8%. This marks a clear slowdown from 2017, when the economy expanded by 3.1%, and was the lowest level of growth since 2010.There was sluggish growth in key areas, such as the economy’s largest sector, wholesale and retail trade (which accounts for 26% of total GDP), which grew by just 1.3% in 2018.

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