The UAE economy will shrink less than expected this year and return to growth in 2010, according to a new forecast by the IMF.
The strengthening price of oil over recent months means the IMF now expects the economy to contract by about 0.2%, instead of the 0.6% it had forecast in May.
It also predicted the Middle East would see 2% growth this year and it revised upwards its forecast for the region for next year to 4.%, from 3.7%.
The National
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