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IMF Revises UAE Growth Forecast for 2014.

The International Monetary Fund (IMF) hasrevised the UAE's 2014 GDP forecast to 4.4 percent on the back of rising real estate pricesand the Expo 2020 win.

The fund predicted last October that the UAE economy will grow by 3.9 per cent inThe International Monetary Fund (IMF) has Qatar had the highest growth forecast for high growth rate to large public investment cent on the back of rising real estate prices and the Expo 2020 win.

itself for the FIFA 2022 World Cup and its efforts to diversify the economy.

February hailing a property boom.

real estate prices are rising at a fast pace, strengthened growth prospects," the IMF saidIt also upgraded the previous year's GDP growth to 4.8 per cent from four per cent. Among MENA's oil exporting countries, Qatar had the highest growth forecast for 2014 at 5.9 per cent. The fund attributed the high growth rate to large public investment programmes undertaken by Qatar to prepare itself for the FIFA 2022 World Cup and its efforts to diversify the economy.

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Publication:Gulf Business
Geographic Code:7QATA
Date:May 31, 2014
Words:188
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